US court halts tariffs tied to Chinese subsidies
A federal court has stopped the US administration from imposing emergency anti-subsidy tariffs on imports from China, affecting several current cases and potentially forcing Congress to legislate to permit such actions in future.
A federal circuit court, the highest level under the Supreme Court, on Monday said the US could not use so-called countervailing duties against imports from highly regulated countries such as China which are designated as non-market economies.
In a case involving the commerce departments imposition of countervailing duties on Chinese tyre imports at the behest of US producers, the court ruled that Congress had previously accepted that such tariffs could not apply to non-market economies. Although commerce has wide discretion in administering countervailing duty and anti-dumping law, it cannot exercise this discretion contrary to congressional intent, the court ruled. f commerce believes that the law should be changed, the appropriate approach is to seek legislative change.
Countervailing duties are imposed against imports deemed to be unfairly state-subsidised. A landmark 1984 US court ruling prevented their use against non-market economies, in effect saying it was double-counting to impose them on top of so-called anti-dumping tariffs, which are used against imports deemed to be unfairly priced. In 2007, the commerce department allowed countervailing duty petitions against non-market economies to resume. Since then, there have been 23 successful cases against imports from China and Vietnam. Five more cases are pending.
Full: Google the title for full article, otherwise clicking directly from elsewhere will lead to a paywall.
nineteen50
(1,187 posts)ain't it grand?
prepperdad
(103 posts)As much as I hate to say it, I think it's time for economies to become more self-sufficient and less inter-dependent. So much dependency on the global level, I think, has contributed much to the current financial fiascos that we are seeing happening everywhere. If it takes a trade war to end it, then so be it.
[url]http://www.survivingeconomiccollapse.net/[/url]
teknomanzer
(1,868 posts)When the oil dries up people will be forced to become self sufficient and community centered. We have already picked the low hanging fruit when it comes to fossil fuels. Without that oil Walmart will not have cargo ships bringing in goods from slave labor economies.