U.S. wins WTO ruling against China in luxury car tariffs disputeMay 24, 2014 - 14:56 AMT PanARMENIAN.Net - The U.S. has won a World Trade Organization (WTO) ruling against China in a dispute over tariffs on U.S. luxury cars. A WTO panel found no basis for duties that China imposed between 2011 and 2013. The U.S. described it as a "significant victory". China began tariffs on saloons and off-road vehicles with an engine capacity of 2.5 liters or more in retaliation for U.S. trade policies. China argued when it introduced the charges that U.S. carmakers, such as General Motors and Chrysler, had received government subsidies and flooded the Chinese market with the cars, which harmed China's own car industry. The U.S. said China had imposed the duties without following the rules and filed the case with the WTO. The rate was as high as 21.5%. U.S. Trade Representative Michael Froman said $5bn of exports in 2013 had been taxed. "The message is clear. China must follow the rules, just like other WTO members," he said. U.S. vehicle exports to China were worth $8.6bn in 2013, 48% more than a year earlier. It is the largest foreign market for U.S. automakers after Canada. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. Pashinyan: We must stop searching for homeland, we have found that homeland Prime Minister Nikol Pashinyan has shared a message on the 109th anniversary of the Armenian Genocide. Erdogan wants “realistic road map” for relations with Armenia Turkish President Recep Tayyip Erdogan has called for a “new realistic road map” for relations with Armenia. Armenia-Azerbaijan: Experts launch work on determining coordinates Expert groups from the countries started the process of determining the coordinates based on geodetic measurements. |