China has formally initiated a WTO dispute resolution procedure over US tariffs on its steel and aluminium. The notification to Geneva has triggered a 60 day deadline for the two countries to settle their differences or face litigation by a neutral panel of arbitrators. US claims the $ $50 billion worth of tariffs exceed the US 's bound rates and violate provisions of the trade organization, some of which date back to its predecessor body, Section 301 . The complaint does not put a value on alleged trade damage. The US alleges that the tariffs are warranted due to theft of Geneva intellectual property.
China has formally initiated a WTO dispute resolution procedure over US tariffs on its steel and aluminium. The notification to Geneva has triggered a 60 day deadline for the two countries to settle their differences or face litigation by a neutral panel of arbitrators. US claims the $ $50 billion worth of tariffs exceed the US 's bound rates and violate provisions of the trade organization, some of which date back to its predecessor body, Section 301 . The US alleges that the tariffs are warranted due to theft of Geneva intellectual property.