Tariff war: China wins WTO case to sanction $3.6 billion in US trade

News Network
November 4, 2019

Nov 4: China secured the World Trade Organization’s go-ahead to impose $3.6 billion in sanctions against the US, in a case that predates the tariff war between the world’s two largest economies but may add a layer of tension to ongoing talks.

The damages awarded, in a document released Friday on the Geneva-based organizations’ website, are the third highest in WTO history. The amount is about half of what was requested by China, which argued that some US anti-dumping rules were illegal.

The case began before the 18-month-old trade war between the two nations, which has led to tit-for-tat tariffs covering some $500 billion in goods going in both directions. While the ruling deals with matters outside current negotiations to conclude phase one of a comprehensive trade deal, it gives Beijing a new — and legal — weapon to wield against the Trump administration if it opts to do so.

The ruling also comes as the US is mounting an assault on the WTO’s dispute resolution system, with the current terms of two of the final three judges on its appellate body due to expire in December and Washington blocking new appointments. The Trump administration is likely to cite the case as an example of what it sees as the overreach of the WTO’s dispute system.

China now can ask the WTO’s settlement body to authorise retaliatory tariffs on US goods. The next steps for the US include amending its illegal anti-dumping restrictions on the Chinese products in question, or resolving the dispute directly with China — a move that theoretically could happen as part of the broader trade-war talks between Washington and Beijing.

At issue in the case were US anti-dumping duties imposed on 13 imported Chinese products including machinery, electronics, metals and minerals. It was first brought by China in 2013 and a WTO panel ruled in Beijing’s favour in 2016. The point of contention was the methodology that the US uses to calculate anti-dumping tariffs, and in particular, how Washington uses the controversial method of “zeroing” in those calculations.

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News Network
November 14,2024

Bengaluru: Karnataka Deputy Chief Minister D K Shivakumar on Thursday backed Chief Minister Siddaramaiah over his claim that the BJP had offered Rs 50 crore each to 50 Congress MLAs in an attempt to "topple" the state government.

Addressing reporters here, Shivakumar, also the Congress state president, said, “The BJP indeed lured 50 Congress MLAs with Rs 50 crore each.”

He defended Siddaramaiah’s statement and said the Congress MLAs were briefed about the BJP’s alleged 'Operation Lotus', a term used to describe the BJP's attempts to destabilise ruling governments through horse-trading.

“Some of our MLAs informed the Chief Minister about this matter, and he, in turn, shared it with the media,” Shivakumar said.

At an event in Mysuru, Siddaramaiah reiterated the claim that "none of the Congress MLAs had accepted the offer".

He also accused the BJP of filing false cases against him in a bid to "remove him and overthrow his government".

The BJP has yet to respond to the allegations.

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News Network
November 5,2024

haris.jpg

Washington: The race between Democratic leader Kamala Harris and her Republican rival Donald Trump for the White House has been truly unprecedented as it saw drama, tragedy, political comebacks, fierce rhetoric and a historically razor-tight contest.

As the fight reaches its crescendo with the big election day just a few hours away, many political observers billed the unpredictable race for the 47th President of the US as the most consequential one in decades while appearing to project a grim picture for the country’s future under a Trump presidency.

In her final days of campaign, Vice President Harris focused on a message of hope, unity, optimism and women rights whereas Trump remained fiercely combative in targeting his Democratic rival and even suggested that he may not accept the election outcome in case of a defeat.

Overall, it has been a roller-coaster ride for both 60-year-old Harris and 78-year-old Trump.

Trump received his party’s nomination in March and formally at the Republican National Convention (RNC) in July — in a historic comeback after remaining in political wilderness for months following several court cases.

In effect, he became the first former president to get the nomination for the top office on the planet after being convicted of a felony.

“Trump has made one of the biggest political comebacks since Richard Nixon’s in terms of the political struggles that he has had in the last four years,” Communication Strategist Anang Mittal said.

Just days ahead of the RNC, Trump was shot at during a rally in Pennsylvania. He suffered an upper ear injury. Minutes later, a bleeding Trump raised his fist in defiance, images that drew a lot of emotional support from his die-hard supporters.

For Harris too, it has been a dramatic ride after Biden ended his re-election campaign in July, nearly weeks after he came under severe scrutiny following his incoherent performance at a televised debate with Trump.

While dropping out from the race, Biden, 81, endorsed Harris to succeed him as the Democratic candidate.

Finally in August, the Democratic National Convention formally nominated Harris as the party’s candidate for the presidential election.

The presidential election will be a chance to “move past the bitterness, cynicism and divisive battles of the past”, she said in a powerful speech at the Convention.

If Harris wins, she will become the first woman, first Black woman and first person of South Asian descent to become the US President.

In the overall campaign, Harris has been projecting the election as the one to protect the country’s fundamental freedoms, safeguard constitutional values and ensure women’s rights.

On his part, Trump has maintained his signature aggressive rhetoric and promising to rebuild the economy and rid the US from illegal immigrants.

However, there has been strong criticism of the Republican leader’s roadmap to repair the economy.

"Donald Trump is offering a vision of crony rentier capitalism that has enticed many captains of industry and finance,” said Joseph E Stiglitz, a Nobel laureate economist, in a column in Project Syndicate.

"In catering to their wishes for more tax cuts and less regulation, he would make most Americans’ lives poorer, harder, and shorter,” he said.

With election day just a few hours away, there is no clarity on who has a better chance of winning the race.

"The elections are very close. They (the outcome) may change on the basis of a few thousands votes here or there. I think the big issue will be voter turnout tomorrow. That will determine the outcome in certain swing states,” said Executive Director of the US chapter of Observer Research Foundation Dhruva Jaishankar.

Kapil Sharma, a non-resident senior fellow at Atlantic Council’s Middle East Programmes, also echoed similar views.

“This election is probably one of the closest elections that I can remember. I have been working in Washington for over 30 years and I don’t recall an election being this tight,” he said.

More than 78 million Americans have already cast their votes as of Sunday, according to the University of Florida’s Election Lab that tracks early and mail-in voting across the US.

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News Network
November 5,2024

haris.jpg

Washington: The race between Democratic leader Kamala Harris and her Republican rival Donald Trump for the White House has been truly unprecedented as it saw drama, tragedy, political comebacks, fierce rhetoric and a historically razor-tight contest.

As the fight reaches its crescendo with the big election day just a few hours away, many political observers billed the unpredictable race for the 47th President of the US as the most consequential one in decades while appearing to project a grim picture for the country’s future under a Trump presidency.

In her final days of campaign, Vice President Harris focused on a message of hope, unity, optimism and women rights whereas Trump remained fiercely combative in targeting his Democratic rival and even suggested that he may not accept the election outcome in case of a defeat.

Overall, it has been a roller-coaster ride for both 60-year-old Harris and 78-year-old Trump.

Trump received his party’s nomination in March and formally at the Republican National Convention (RNC) in July — in a historic comeback after remaining in political wilderness for months following several court cases.

In effect, he became the first former president to get the nomination for the top office on the planet after being convicted of a felony.

“Trump has made one of the biggest political comebacks since Richard Nixon’s in terms of the political struggles that he has had in the last four years,” Communication Strategist Anang Mittal said.

Just days ahead of the RNC, Trump was shot at during a rally in Pennsylvania. He suffered an upper ear injury. Minutes later, a bleeding Trump raised his fist in defiance, images that drew a lot of emotional support from his die-hard supporters.

For Harris too, it has been a dramatic ride after Biden ended his re-election campaign in July, nearly weeks after he came under severe scrutiny following his incoherent performance at a televised debate with Trump.

While dropping out from the race, Biden, 81, endorsed Harris to succeed him as the Democratic candidate.

Finally in August, the Democratic National Convention formally nominated Harris as the party’s candidate for the presidential election.

The presidential election will be a chance to “move past the bitterness, cynicism and divisive battles of the past”, she said in a powerful speech at the Convention.

If Harris wins, she will become the first woman, first Black woman and first person of South Asian descent to become the US President.

In the overall campaign, Harris has been projecting the election as the one to protect the country’s fundamental freedoms, safeguard constitutional values and ensure women’s rights.

On his part, Trump has maintained his signature aggressive rhetoric and promising to rebuild the economy and rid the US from illegal immigrants.

However, there has been strong criticism of the Republican leader’s roadmap to repair the economy.

"Donald Trump is offering a vision of crony rentier capitalism that has enticed many captains of industry and finance,” said Joseph E Stiglitz, a Nobel laureate economist, in a column in Project Syndicate.

"In catering to their wishes for more tax cuts and less regulation, he would make most Americans’ lives poorer, harder, and shorter,” he said.

With election day just a few hours away, there is no clarity on who has a better chance of winning the race.

"The elections are very close. They (the outcome) may change on the basis of a few thousands votes here or there. I think the big issue will be voter turnout tomorrow. That will determine the outcome in certain swing states,” said Executive Director of the US chapter of Observer Research Foundation Dhruva Jaishankar.

Kapil Sharma, a non-resident senior fellow at Atlantic Council’s Middle East Programmes, also echoed similar views.

“This election is probably one of the closest elections that I can remember. I have been working in Washington for over 30 years and I don’t recall an election being this tight,” he said.

More than 78 million Americans have already cast their votes as of Sunday, according to the University of Florida’s Election Lab that tracks early and mail-in voting across the US.

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