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28 July 2017 16:46 (South Africa)

China rails against US tariffs on oil and gas products

China is embroiled in another spat with the US over World Trade Organisation rules. It says a US decision to impose anti-dumping duties on Chinese-made pipes used by the oil and gas industry is protectionism. Of course, it’s not just about the trade of goods. Washington and Beijing are involved in other disputes over things such as tyres and movies, which could damage cooperation in other areas such as North Korea’s nukes, climate change and how to combat the global financial crisis. China’s commerce ministry has accused the US of improperly calculating the market value of the Chinese pipes when it imposed duties ranging from 10.36% to 15.78%. The US commerce department responded by saying it was acting to counter improper loans, tax breaks and other subsidies to Chinese producers. Tricky stuff, indeed, especially as the WTO promotes “free trade” and a so-called official policy of a “Chinese-style market economy with socialist characteristics” is involved. While that certainly doesn’t include dumping and other illegal means to get goods to market, to the Chinese way of thinking, it just means the US should buy anything and everything that China produces. Read more: AP

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