Market Chatter: China Slams US, Canada Over Trade Rules During WTO Meeting

MT Newswires Live
2024-11-22

The Chinese government slammed Canada's additional tariffs on electric vehicles and other imports from China and the US for initiating an investigation of China's shipping sector during a meeting with the World Trade Organization, Yicai Global reported Friday.

China called Canada's 100% additional tariffs on new energy vehicles and a 25% additional duty on steel and aluminum imports a form of unilateralism and trade protection, thereby violating WTO commitments, the report said.

The Chinese government filed a complaint against Canada at the WTO for the additional duties in September, the report said.

China also said the US investigation of the country's shipbuilding sector does not have factual basis and is against common sense, the report said.

Delegates said the US' move disrupts the global supply chain, Yicai said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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