Home / Market Update / W.T.O. Says American Tariffs on China Broke Global Trade Rules

W.T.O. Says American Tariffs on China Broke Global Trade Rules

The World Trade Organization has ruled that the additional tariffs imposed by the United States in 2018 on Chinese goods violate international trade rules, in a blow to the Trump administration’s trade war against the world’s second largest economy.

A three-person panel of trade experts at the World Trade Organization said Washington violated global regulations in 2018 by imposing more than $ 200 billion in taxes on a large number of Chinese goods. Since March 2018, the United States has imposed tariffs on Chinese exports worth $ 400 billion.

An additional 25% duties were imposed in June 2018 against Chinese goods worth about $34 billion in annual trade.

Check Also

European shares slump as AI valuation jitters deepen; Nvidia in focus, oil eases as Russian exports resume

European equities fell sharply, mirroring Wall Street’s tech-led selloff as investors questioned the durability of …