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China Submits Suspending Concession List Against US Products to WTO

China has submitted to the World Trade Organization a list of suspending concession against US products targeted for import duties.

The list, a tariff response to US steel tariffs, was submitted to WTO on May 17, according to the Ministry of Foreign Trade and Economic Cooperation (MOFTEC). It includes waste paper, bean oil and electric compressors.

Since the US announced the steel import quotas and tariffs on March 5, the Chinese government has carried out formal bilateral consultations with the US in the framework of WTO dispute settlement mechanism.

However, the US side had not given a clear reply to China's request on compensation and exclusion, according to MOFTEC.

If the WTO dispute settlement panel decides that the US safeguard measures conflict with WTO agreements, China will add a 24 percent tariff to those products, with the total tariff volume of 94 million US dollars, according to MOFTEC.

(People's Daily May 22, 2002)

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