China Files WTO Complaint Against US and Europe

China has filed a complaint with the World Trade Organisation over the way the US and Europe use anti-dumping rules against it.

Countries that sell exports below their cost of production – usually to get market share – have to pay duties as punishment.

But Beijing says its rates should now be reduced because China has been a WTO member for 15 years.

The US has signalled there would be no change in its approach.

And the European Commission said China’s legal challenge was a “regret” given a proposal to change the way it calculated the duties on China was awaiting approval from the EU’s 28 members.

Authorities in Washington and Brussels are keen to preserve tough rules prevent cheap Chinese products flooding their markets.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza