December 02, 2008

China says that AD probes by US violates WTO rules

Mr Gao Hucheng vice minister of commerce of China said that the recent anti dumping and anti subsidy investigations launched by the US against Chinese goods violate rules of the World Trade Organization. Mr Hucheng while addressing a press conference held by the state council information office said that the US investigations and the measures that it might take against Chinese goods would lead to double taxation, which is banned by the WTO.

It may be noted that US has launched 5 separate investigations into Chinese products, including art paper, steel pipe and tyres since November 2006.

China has been the fastest growing export destination of the US for 5 consecutive years and is expected to overtake Japan as the third largest export market of the US at the end of 2007 or early 2008. According to Chinese customs sources, China's foreign trade value reached USD 1.17 trillion in the January to July 2007 up by 24.4% YoY. The EU remained China’s largest partner with a trade value of USD 190.1 billion up by 28.5% YoY followed by the US with USD 167 billion up by 17.5% YoY and Japan with USD 130 billion up by 15.2% YoY.