US, EU file WTO case against China
Washington, March 31:
The United States and the European Union filed a trade case against China in a dispute involving auto parts as the Bush administration moved to deal with rising concern over a soaring deficit with China.
The complaint alleges China of imposing high taxes on imported auto parts in violation of commitments to WTO. The action was the latest sign that US is stepping up pressure on China to hold back protectionist sentiment in Congress.
Lawmakers, unhappy that America’s deficit with China soared to a record $202 billio (euro167 billion) last year, are pushing a number of bills that would impose economic sanctions on China in retaliation for what critics contend are unfair trade practices that have cost Americans thousands of lost jobs.