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ECONOMY
THIS WEEK> THIS WEEK NO. 39, 2012> ECONOMY
UPDATED: September 21, 2012 NO. 39 SEPTEMBER 27, 2012
Dispute Filed to WTO
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On September 17, China filed a case against the United States to the Dispute Settlement Body of the WTO on its amendment to the Tariff Act of 1930 (GPX bill).

China claimed the bill is inconsistent with WTO rules on transparency and procedural justice and requested consultations with United States.

Shen Danyang, a spokesman for the Ministry of Commerce (MOFCOM), said the U.S. Court of Appeals for the Federal Circuit ruled on December 19, 2011, in a dispute that the U.S. Department of Commerce did not have legal authority to launch countervailing investigations against non-market economy countries.

U.S. President Barack Obama signed the bill in March. It is believed to clear legal obstacles for the United States to impose punitive tariffs over "non-market economy countries."

The United States rapidly passed the GPX bill in less than three months with a retroactive period dating back to November 20, 2006, instead of correcting its wrongdoing in accordance with the verdict of the court, said Shen. The dispute involves 24 types of products worth about $7.23 billion, he said.



 
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