The World Trade Organization (WTO) established an expert panel January 19th to investigate and rule whether punitive U.S. tariffs on Chinese-made tires breach WTO regulations.
President Barack Obama approved punitive tariffs up to 35 percent on all car and light truck tires from China last September in an attempt to “remedy the clear disruption to the U.S. tire industry.”
The expert panel was established at a meeting of the WTO’s Dispute Settlement Body (DSB). China reiterated its position that the U.S. tariffs “run short of factual bases and breached the U.S. obligations under the WTO.”
“The Chinese government deeply regretted the U.S. decision to impose restrictions on Chinese tires and believed it was a departure of international consensus of G20 leaders to fight against protectionism,” the Chinese delegation said.
No word that the Chinese Government had any regret on currency manipulation.
The WTO expert panel usually consists of three members, and it takes up to 45 days for them to be appointed. The panel will need at least half a year to issue its final report.
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