(Forbes)
China is using the World Trade Organization (WTO), an American-made institution, to get even with the US.
Beijing is seeking $2.4 billion in retaliatory sanctions against Washington for non-compliance with a WTO ruling in a tariff dispute against the US tracing back in the Obama era.
That’s according to a Reuters report, which states that America could face Chinese sanctions if it does not lift certain tariffs that violate WTO rules.
Ted Bauman, economist and senior research analyst at Banyan Hill Publishing, doesn’t see this ruling having any material significance on the on-going trade war between the two countries. “It's just one more data-point in the larger ongoing tussle between the two countries,” he says. Read more