10/21, 11:55 AM (Source: TeleTrader)
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WTO: China seeks $2.4B in sanctions against US

The United States could face $2.4 billion in retaliatory sanctions from China due to Washington's non-compliance with a 2012 World Trade Organization (WTO) ruling which required the US to cancel tariffs on solar panels, steel cylinders, wind towers and aluminum extrusions, among others, a document published by the WTO on Monday revealed.

"In response to the United States' continued non-compliance with the DSB's [Dispute Settlement Body] recommendations and rulings, China requests authorization from the DSB to suspend concessions and related obligations at an annual amount of $2.4 billion," Beijing said in a request.

Back in July, appeals judges of the WTO ruled that the US failed to fully comply with the Obama-era ruling, opening a path for China to seek retaliatory sanctions.

Breaking the News / GG