THE United States won a World Trade Organisation (WTO) ruling against China's use of tariff-rate quotas for rice, wheat and corn, which it successfully argued limited market access for US grain exports, reported Reuters.
A WTO dispute panel ruled that under the terms of its 2001 WTO accession, China's administration of the tariff rate quotas (TRQs) violated its obligation to administer them on a 'transparent, predictable and fair basis'.
TRQs are two-level tariffs, with a limited volume of imports allowed at the lower 'in-quota' tariff and subsequent imports charged an 'out-of-quota' tariff, which is usually much higher.
The case, lodged in late 2016, marked the second US victory in recent months. In March, Washington clinched a WTO ruling on China's price support for grains.
WORLD SHIPPING
A WTO dispute panel ruled that under the terms of its 2001 WTO accession, China's administration of the tariff rate quotas (TRQs) violated its obligation to administer them on a 'transparent, predictable and fair basis'.
TRQs are two-level tariffs, with a limited volume of imports allowed at the lower 'in-quota' tariff and subsequent imports charged an 'out-of-quota' tariff, which is usually much higher.
The case, lodged in late 2016, marked the second US victory in recent months. In March, Washington clinched a WTO ruling on China's price support for grains.
WORLD SHIPPING