US wins trade dispute on Chinese GOES duties
Switzerland, Geneva: The World Trade Organization (WTO) ruled on Friday that China was not complying with its 2012 findings that duties added to high-value grain-oriented electrical steel (GOES) products were inconsistent with the group’s rules.
Switzerland, Geneva: The World Trade Organization (WTO) ruled on Friday that China was not complying with its 2012 findings that duties added to high-value grain-oriented electrical steel (GOES) products were inconsistent with the group’s rules.
WTO ruled three years ago that China broke international trade guidelines by imposing antidumping and countervailing duties on U.S. exports. The country imposed the duties because it determined the U.S. and Russian governments subsidized companies exporting steel to China and calculated those products were being sold at less than fair market value, reports Cincinnati.com.
The duties contributed to more than $200 million in annual losses for American steel exporters, according to U.S. Trade Representative Michael Froman.
Grain-oriented electrical steel products are a specialty grade of steel used in the cores of high-efficiency transformers, electric motors and generators.
Source: Cincinnati.com
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