WTO to Discuss China-US Disputes Over Steel

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Last updated at: (Beijing Time) Wednesday, May 29, 2002

WTO to Discuss China-US Disputes Over Steel

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The WTO has decided on May 28 to hold a special conference on June 7 to resolve disputes over steel trade between China and the United States.

Following the EU, Japan and the Republic of Korea (ROK), China is the fourth to request the WTO to set up an expert group for investigation. It's the first case China has submitted to the WTO since it entered the organization last year.

Earlier, the first request of the EU was vetoed by the United States. According to WTO rules and regulations, the second EU request can't be overruled again at the special dispute-resolving conference on June 3. The expert group will be established soon.

At the meeting scheduled for June 3, the WTO is also going to discuss for the first time the requests of Japan and the ROK for the appointment of an expert group. According to a WTO official, the United States is likely to veto their requests again.

Sources said the expert group to be established will listen to the complaints of Norway, New Zealand and Brazil as well.

According to related rules on WTO mechanism for resolving disputes, the expert group should come to a conclusion within 6 months and submit reports to all disputing parties.

On March 20 this year, the United States imposed a 3-year tariff quota restriction and a 30 percent surcharge of tariff on major imported steel products, which was opposed by many countries. China, the EU, Japan, the ROK, Switzerland and Norway conducted consultations with the United States in Geneva on April 11-12, demanding it to immediately stop such a measure of protectionism.

US raises tariffs on several imported steel

The United States was at loggerheads with its key war allies Tuesday, May 5, after imposing tariffs of up to 30 per cent on steel imports, threatening a damaging trade dispute.

The Bush Administration said that it was justified in acting to protect the ailing US steel industry. Thirty-one American steel firms have gone bankrupt in the past four years. The industry blames the decline on the unchecked influx of cheap foreign steel.

European Union leaders vowed swift retaliation and gave warning that the global economy would suffer. Romano Prodi, President of the European Commission, told President Bush before the announcement Tuesday that steps would have to be taken in response.>>details

By PD Online Staff Yang Ruoqian

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