WTO to setup panels to rule on US Tariff Disputes | Daily Current Affairs 2021

WTO to setup panels to rule on US Tariff Disputes

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World Trade Organization has decided to setup a panel to solve the US tariff disputes. The decision comes after United States and China clashed at a World Trade Organization meeting with a U.S. envoy accusing Beijing of using the WTO to pursue “non-market” policies and a Chinese official saying it was Washington that was flouting the rulebook.

U.S. President Donald Trump has outraged U.S. trading partners by erecting a tariff wall against imports of steel and aluminum – justified by U.S. national security concerns – and has hit Chinese goods with huge tariffs over accusations of stealing U.S. intellectual property.

At the meeting, where a slew of legal disputes over Trump’s trade policies entered a formal adjudication phase, U.S. Ambassador Dennis Shea said China was using the WTO to promote “non-market” policies, which had distorted world markets and led to massive excess capacity, especially in steel and aluminum.

The Chinese official retorted that Beijing did not want to get into a blame game and said the United States had failed to back up its “unfounded” claims about China’s economy, which it was using to disguise its own violations of the WTO rulebook.

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