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China Loses WTO Bid To Overturn U.S. Law Against Unfair Subsidies

wochit news
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March 27, 2014 AT 5:24 AM
China lost its bid to overturn U.S. legislation targeting unfair trade subsidies on Thursday, its second defeat in a World Trade Organization dispute within 24 hours. The WTO threw out a Chinese claim that "Public Law 112-99", signed by President Barack Obama in March 2012, broke world trade rules. But China won another part of the case, in which it had argued that the United States had been wrong to punish some Chinese exports twice over - once for being subsidized and once for being "dumped", or sold at unfairly cheap prices. Both sides have 60 days to appeal the ruling.