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 | Russia provides info about arrested Armenian ex-MP Russian law enforcement agencies have provided information about the arrest of Tigran Urikhanyan. Lemkin Institue slams Pashinyan's “cryptic engagement with Genocide denial” The Lemkin Institute is alarmed over Pashinyan’s statements “questioning Armenia's legal basis to pursue justice against Turkey”. 41 detained as antigovernment protests continue in Yerevan 41 people were detained in Yerevan as people demanding Pashinian’s resignation stage campaigns of civil disobedience. Armenia votes for UN resolution granting Palestine new rights The U.N. General Assembly voted by a wide margin on May 10 to grant new “rights and privileges” to Palestine. |