China has been challenged by the US over its use of tariff-rate quotas (TRQs) for corn, rice and wheat at the World Trade Organization (WTO), accusing China of breaching WTO rules and hitting US farm exports. Industry groups applauded the action saying it would help worldwide grain exporters who are grappling with low prices and large supplies. The Trump administration is also considering a 25 percent tariff on steel imports from China, which could be implemented as early as next month.
China has been challenged by the US over its use of tariff-rate quotas (TRQs) for corn, rice and wheat at the World Trade Organization (WTO), accusing China of breaching WTO rules and hitting US farm exports. Industry groups applauded the action saying it would help worldwide grain exporters who are grappling with low prices and large supplies. This marks the second challenge to China's agricultural policies by the US since September, and the latest in a series of trade disputes between the two nations.