By Tom Barkley, Market Watch:
WASHINGTON–The U.S. blocked China’s request Friday for the World Trade Organization to set up a panel to resolve a countervailing duty dispute, likely providing only a temporary respite in a high-profile case involving tariffs on Chinese solar panels, wind towers and a range of steel products.
Beijing had requested the dispute panel after consultations at the global trade body “failed to resolve” its concerns, according to China’s Ministry of Commerce. The dispute covers 22 products, including wind turbine towers, crystalline silicon photovoltaic cells and lightweight thermal paper, with an export value of $7.29 billion.
But the U.S. Trade Representative exercised its right to block the creation of a panel for one meeting of the WTO’s dispute settlement body, meaning China can renew its request at the next session… Read more