WTO backs U.S. in case against China duties on steel - News and Current Events | futures io social day trading
futures io futures trading


WTO backs U.S. in case against China duties on steel
Updated: Views / Replies:224 / 0
Created: by kbit Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

WTO backs U.S. in case against China duties on steel

  #1 (permalink)
Elite Member
Aurora, Il USA
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
 
kbit's Avatar
 
Posts: 5,872 since Nov 2010
Thanks: 3,301 given, 3,332 received

WTO backs U.S. in case against China duties on steel

Reuters) - A World Trade Organisation panel on Friday ruled in favor of the United States in a case against import duties imposed by China on a specialty steel product used in power transformers.

"With respect to each of the 11 programs at issue, the panel concluded that China had acted inconsistently" with WTO rules governing the use of countervailing duties, the panel said in its ruling.

The case involved Chinese duties on potentially hundreds of millions of dollars of "grain-oriented flat-rolled electrical steel" (GOES), a specialty steel product made by AK Steel Corp of Ohio and ATI Allegheny Ludlum of Pennsylvania.

"Today's victory is important not only for steelworkers in Pennsylvania and Ohio, but also for American farmers and workers in other sectors that export to China," U.S. Trade Representative Ron Kirk said in a statement.

"The panel upheld our claims that China's duties on U.S. exports of steel products failed to comply with many WTO rules. This decision sends another clear signal to China that it must do more to fulfill its WTO commitments, and that it will be held accountable to play by WTO rules," he said.

China had imposed the punitive duties after its top silicon steel producers Baosteel Group and Wuhan Iron and Steel Group had complained about imports from the United States and Russia, which is not yet a member of the WTO and was not involved in the case.

The Chinese steel giants were unhappy about the "Buy America" provisions of the American Recovery and Reinvestment Act of 2009 and State government procurement laws.

China imposed the duties in April 2010, prompting the United States to take the case to the WTO for adjudication. It claimed that China lacked sufficient evidence of unfair U.S. pricing practices or government subsidies to impose the duties.

China's Ministry of Commerce said in a statement that the WTO panel had supported China's key claims and found that China acted consistently with WTO rules in some areas, such as in its subsidy calculation methodology and on the disclosure of subsidies relating to government purchases of goods.

"With regard to the Panel's findings on other issues in dispute, China will conduct further evaluation and reserves the right to appeal," it said.

Grain-oriented electrical steel, also known as grain-oriented silicon steel, is used for the cores of high-efficiency transformers, electric motors and generators.


WTO backs U.S. in case against China duties on steel | Reuters

Reply With Quote

Reply



futures io > > > > WTO backs U.S. in case against China duties on steel

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
‘Russia’s been 10 years late to WTO’ kbit News and Current Events 0 May 27th, 2012 02:43 PM
Chinese WTO suit strikes back at U.S. duties kbit News and Current Events 0 May 25th, 2012 07:23 PM
Price of a Job Saved by China Tire Duties: Nearly $1 Million kbit News and Current Events 0 May 1st, 2012 03:23 PM
Crisis Threatens to Increase Protectionism: WTO Quick Summary News and Current Events 0 December 15th, 2011 05:20 AM
China Cracks Down in Biggest Stock Manipulation Case Quick Summary News and Current Events 0 December 13th, 2011 12:00 AM


All times are GMT -4. The time now is 07:09 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-11 in 0.06 seconds with 19 queries on phoenix via your IP 54.92.194.75