. Earth Science News .
TRADE WARS
US takes two China trade disputes to WTO

by Staff Writers
Washington (AFP) Feb 11, 2011
The United States said Friday it had taken trade disputes with China over US steel imports and electronic payment services to the World Trade Organization.

The US requested the Geneva-based WTO to establish two panels to settle the disputes, US Trade Representative Ron Kirk said in a statement.

The WTO action marked an escalation in the long-running list of trade disputes between the world's largest economy and its fast-growing Asian rival.

One case addresses China's imposition of antidumping duties and countervailing duties on imports of grain-oriented flat-rolled electrical steel from the United States, the statement said.

The other case challenges China's allegedly discriminatory and restrictive treatment of US suppliers of electronic payment services.

Previous US attempts to resolve the two disputes directly with China had failed, the USTR said.

"We are troubled by the procedures and decision-making employed by China in its trade remedy investigations, which have now led to serious restrictions on exports of American steel," Kirk said.

"We also remain deeply concerned about China's continuing efforts to reserve its domestic payment card market for one state-owned enterprise, to the exclusion of American credit and debit card companies."

Kirk said that in each of those disputes, the "USTR will be pressing to ensure that we obtain the trade benefits provided by the WTO agreement, in particular the American jobs and economic growth at stake as a result of China's actions."

The US accuses China of flouting WTO rules in applying additional duties on imports of the electrical steel, used by the power-generating industry in transformers, reactors, and other large electric machines.

China imposed duties on specific steel imports in April 2009, saying the American steel had been dumped -- sold at less than fair market value -- into its market and was subsidized.

The USTR said that China's antidumping and subsidy determinations in the case appeared to violate numerous WTO requirements, including initiating the proceedings "without sufficient evidence" and failing to disclose "essential facts" underlying its conclusions.

"We have watched with growing concern China's resort to additional duties on US exports," Kirk said.

"It is important to ensure that China is held to the WTO rules and so prevent any unjustified duties from affecting hundreds of millions of dollars of US steel exports to China," he added.

The two largest US manufacturers of electrical steel are in the struggling "rust belt": AK Steel Corporation, based in Ohio, and Allegheny Ludlum, based in Pennsylvania.

In the second case, the US accused China of creating a "national champion" to monopolize the country's operation of electronic payment transactions, which it estimated was worth several hundred billion dollars in 2010.

While most of the world's top providers of electronic payment services for credit and debit cards are headquartered in the United States, the USTR said, China prohibits foreign suppliers from handling the typical payment card transaction in China.

"China's regulator of electronic payment services, the People's Bank of China, has issued a series of measures -- dating back to 2001 -- that provide a Chinese domestic entity, China UnionPay (CUP), with a monopoly over the handling of domestic currency payment card transactions in China while excluding other potential suppliers," the US trade office said.



Share This Article With Planet Earth
del.icio.usdel.icio.us DiggDigg RedditReddit
YahooMyWebYahooMyWeb GoogleGoogle FacebookFacebook



Related Links
Global Trade News



Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News


TRADE WARS
US commerce secretary urges more India reform
Mumbai (AFP) Feb 11, 2011
US Commerce Secretary Gary Locke on Thursday called on India to create more jobs and upgrade its infrastructure as it embarks on a rapid growth path. Locke, in India after US president Barack Obama's visit to the country in November, urged the software sector to push for more market reform. "India needs more jobs, its transport and infrastructure have to be upgraded," Locke said, adding ... read more







TRADE WARS
Australia flags taxpayer levy for floods

Australia PM introduces contentious floods tax

Australian MPs weep for disaster victims

Disasters could reverse growth: Australia

TRADE WARS
Yap.TV a virtual living room for show lovers

Nokia needs to make Windows phones hip

Cartoon news is the future: Hong Kong media mogul

Web makes 15 mins fame a lifetime of shame

TRADE WARS
Thailand closes dive spots due to reef damage

China earmarks $303 bn for safe water: report

ESA Has Sharp Eyes On Coastal Waters

Greenpeace urges west Africa to protect fish stocks

TRADE WARS
VIMS Team Glides Into Polar Research

Russia, Norway sign Barents agreement

Norwegian house ratifies Arctic border agreement with Russia

Greens: Alaska oil delay a win for polar bears

TRADE WARS
Philippines rice 2010 farm output hit by weather

Toward Controlling Fungus That Caused Irish Potato Famine

Morales aborts visit amid food riot fears

US trade chief urges Europe to open market to GM foods

TRADE WARS
Powerful quake rocks Chile year after disaster

Another Iceland volcano may erupt

UN's Sri Lanka flood appeal falling short

Sri Lankan floods pile on misery: UN

TRADE WARS
China FM urges West to lift sanctions on Zimbabwe

Chad military still using child soldiers: Amnesty

China's foreign minister visits 'good brother' Zimbabwe

Arms seized in Nigeria were for Gambia: Iran ambassador

TRADE WARS
Mathematical Model Explains How Complex Societies Emerge And Collapse

Multiculturalism loses appeal in Europe

Bleak future seen for U.K. brain research

Bone indicates our ancestor walked upright


The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal 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. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement