GPS News  
TRADE WARS
China accuses US of violating WTO rules: media
by Staff Writers
Beijing (AFP) Feb 4, 2017


Beijing accused Washington of "protectionism" and violating global trade rules on Saturday, Chinese media reported, after the United States imposed hefty tariffs on certain Chinese steel imports.

The US Department of Commerce on Thursday imposed duties ranging from 63 percent to 190 percent on Chinese exporters that it accuses of selling their products at below fair value or of being unfairly subsidised.

"The United States has violated World Trade Organization rules by neglecting the abundant proof offered by Chinese companies and has treated them unfairly simply because of their state-owned-enterprise status," Wang Hejun from China's Ministry of Commerce was quoted by the official Xinhua news agency as saying.

"The root cause for current challenges facing the steel sector is the sluggish world economy and shrinking demand, which calls for global cooperation instead of protectionism."

The US tariffs follow a similar move last month by the European Union, which unveiled taxes of between 30.7 percent and 64.9 percent on certain Chinese steel products as it seeks to protect struggling steel makers in Europe.

China makes more than half the world's steel but a slowdown in its economy and sagging global demand has left the industry with huge excess capacity.

It has been accused of dumping its production on world markets, sinking prices and violating international trade agreements.

US President Donald Trump has previously threatened to impose 45 percent import tariffs on Chinese goods, saying the world's second biggest economy had abused the US through currency manipulation and illegal subsidies.

In the face of criticism, Beijing has vowed to eliminate 100-150 million tonnes of steel capacity -- out of a total of 1.2 billion tonnes -- by 2020.


Comment on this article using your Disqus, Facebook, Google or Twitter login.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
Global Trade News






Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
TRADE WARS
Facing Trump trade threats, Mexico eyes new partners
Mexico City (AFP) Feb 3, 2017
/> Facing US President Donald Trump's protectionist threats, Mexico is looking to expand trade ties with Europe and Asia, but reducing its dependence on the massive US market will be tough. Mexico and the European Union agreed on Wednesday to speed up negotiations to modernize an existing free trade pact in which 53 billion euros ($57 billion) in goods were exchanged in 2015. At the sam ... read more


TRADE WARS
Italy's military 'narcos' cook up cannabis cures

Corn turning French hamsters into deranged cannibals: research

Crop achilles' heel costs farmers 10 percent of potential yield

Pigs and chocolate: Using math to solve problems in farming

TRADE WARS
First ever blueprint unveiled to construct a large scale quantum computer

Germanium outperforms silicon in energy efficient transistors with n- und p- conduction

Towards new IT devices with stable and transformable solitons

Quantum RAM: Modelling the big questions with the very small

TRADE WARS
Made-in-China large passenger plane targets 2017 debut

Advanced robotic bat's flight characteristics simulates the real thing

Lockheed completes inlet coating repair on F-22

Myanmar in talks to license-build JF-17 fighter

TRADE WARS
Volvo Cars posts strong earnings on record sales

Germany, France plan cross-border self-driving test zone

Pedal power revival as bike-share apps race for glory

Luxembourg prosecutes unknown person in VW scandal

TRADE WARS
Top tech companies argue against Trump travel ban

Chinese FM to visit Australia in wake of Trump tiff

India's techies fear US crackdown on high-skilled visas

Facing Trump trade threats, Mexico eyes new partners

TRADE WARS
High-tech maps of tropical forest diversity identify new conservation targets

Risk of tree species disappearing in central Africa 'a major concern,' say researchers

Forests 'held their breath' during global warming hiatus, research shows

Trees supplement income for rural farmers in Africa

TRADE WARS
NASA Makes an EPIC Update to Website for Daily Earth Pics

Subscale Glider Could Assist in Weather Studies, Prediction

Wind satellite heads for final testing

Research journey to the center of the Earth

TRADE WARS
Supercomputing, experiment combine for first look at magnetism of real nanoparticle

Scientists determine precise 3-D location 23,000 atoms in a nanoparticle

1,000 times more efficient nano-LED opens door to faster microchips

Three magnetic states for each hole









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.