Topic “trade disputes” — Exporter Magazine

China must make its farm sector more transparent and fairer to foreign competition, the United States told the World Trade Organisation’s (WTO) agriculture committee on Friday, as it reviewed China’s first decade in the world trade body, according to ChinaPost. The report said the decision was made after the European Confederation of Footwear Industries, Europe’s largest shoemakers association, withdrew its petition for an extension of tariffs.

The EU began to levy anti-dumping duties ranging from 9.7% to 16.5% on Chinese shoes with leather uppers in 2006 and extended the tariff by a further 15 months in 2009.

A panel at the Geneva-based trade group on Monday said it agreed that the US was justified in slapping a 35% tax on Chinese tyres under WTO provisions that let countries protect local industries and workers from sharp increases in Chinese imports. Nobel Prize-winning economist Paul Krugman said China is headed for a “trade conflict” with the US and other western countries as tensions rise about how to rebalance the global economy, according to a Bloomberg report.