China seeks $2.4 billion in penalties against US at WTO

BERLIN (AP) — China is asking World Tre Organization for right to impose $2.4 billion in annual penalties on United States in a case over Chinese subsidies dating back years. A document published Monday showed China has called for matter to be considered by WTO’s Dispute Settlement Body next Monday. matter would be referred to a WTO arbitrator if U.S. objects to amount China proposes.

request stems from a July WTO appellate decision in a case dating to before Trump ministration, and unrelated to tariffs it has slapped on Chinese goods. Washington criticized that decision, which it said recognizes that China uses state-owned enterprises to subsidize and distort its ecomy but contends U.S. must use “distorted Chinese prices” to measure subsidies.