A WTO (World Trade Organization) panel had ruled on Tuesday that the Trump Administration’s added levies on $200 billion worth of Chinese goods had been illegal, justifying Beijing’s cause which would allow China to incline retaliatory tariffs on US goods.
In point of fact, the latest verdict of the Geneva-based trade body has marked up the first ruling against a string of contentious tariffs, which the Trump Administration had imposed against a swathe of WTO member countries impacting both friends and foes, though the US President Donald Trump had long been accusing the WTO of mistreating the United States’ stance when it came to the tariffs.
WTO ruling would enable China to impose retaliatory tariffs on US goods
In theory, the WTO verdict would enable Beijing to incline retaliatory tariffs on billions of dollar worth of US goods, though analysts assumed that the ruling would unlikely to have a material impact as the United States could appeal against the decision, but WTO’s appeals court has no longer been functional because of the United States’ single-handed veto to allow new members into it.
Nonetheless, according to the WTO’s dispute settlement body decision aired on Tuesday, the panel had ruled against the US Govt.’s argument that Beijing had been wrongfully engaged in practices that harmed had US interests on technology transfer and intellectual property theft.
However, as an inevitable repercussion of the ruling, the US trade representative Robert Lighthizer said in a statement shortly after the WTO ruling, “This panel report confirms what the Trump administration has been saying for four years: The WTO is completely inadequate to stop China’s harmful technology practices.
The United States must be allowed to defend itself against unfair trade practices, and the Trump administration will not let China use the WTO to take advantage of American workers, businesses, farmers and ranchers,” adding the United States had delivered “exclusive evidence” on China’s intellectual property theft, but the WTO panel turned a deaf ear to the US Government’s argument.