Tariff war: China wins WTO case to sanction $3.6 billion in US trade

News Network
November 4, 2019

Nov 4: China secured the World Trade Organization’s go-ahead to impose $3.6 billion in sanctions against the US, in a case that predates the tariff war between the world’s two largest economies but may add a layer of tension to ongoing talks.

The damages awarded, in a document released Friday on the Geneva-based organizations’ website, are the third highest in WTO history. The amount is about half of what was requested by China, which argued that some US anti-dumping rules were illegal.

The case began before the 18-month-old trade war between the two nations, which has led to tit-for-tat tariffs covering some $500 billion in goods going in both directions. While the ruling deals with matters outside current negotiations to conclude phase one of a comprehensive trade deal, it gives Beijing a new — and legal — weapon to wield against the Trump administration if it opts to do so.

The ruling also comes as the US is mounting an assault on the WTO’s dispute resolution system, with the current terms of two of the final three judges on its appellate body due to expire in December and Washington blocking new appointments. The Trump administration is likely to cite the case as an example of what it sees as the overreach of the WTO’s dispute system.

China now can ask the WTO’s settlement body to authorise retaliatory tariffs on US goods. The next steps for the US include amending its illegal anti-dumping restrictions on the Chinese products in question, or resolving the dispute directly with China — a move that theoretically could happen as part of the broader trade-war talks between Washington and Beijing.

At issue in the case were US anti-dumping duties imposed on 13 imported Chinese products including machinery, electronics, metals and minerals. It was first brought by China in 2013 and a WTO panel ruled in Beijing’s favour in 2016. The point of contention was the methodology that the US uses to calculate anti-dumping tariffs, and in particular, how Washington uses the controversial method of “zeroing” in those calculations.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 27,2020

Jan 27: Bidders for Air India Ltd. will need to absorb $3.26 billion of its debt, as Prime Minister Narendra Modi’s administration tries once again to sell the national carrier.

The entire company will be sold but effective control needs to stay with Indian nationals, according to preliminary terms published Monday. Bids are invited by March 17 with Ernst & Young LLP India as transaction adviser.

Air India, which started in 1932 as a mail carrier before winning commercial popularity, saw its fortunes fade with the emergence of cutthroat low-cost competition. The state-run airline has been unprofitable for over a decade and is saddled with more than $8 billion in debt.

Indian regulations allow a foreign airline to buy as much as 49% of a local carrier, while overseas investors other than airlines can buy an entire carrier. The government didn’t find a single bidder when it tried to sell Air India in 2018.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
April 25,2020

From loudspeakers on the roof of a Minnesota mosque, the Islamic call to prayer echoed for the first time ever throughout a Minneapolis neighbourhood late on Thursday as the Muslim community there prepared to begin the holy month of Ramadan.

It echoed again on Friday morning and will continue five times a day during the holy month. 

The simple, short call - known as the adhan - marked an historical moment for Minneapolis and major cities across the United States, community members said. While the adhan is commonly broadcast throughout the Middle East, North Africa and other places, for many Muslims in the US, it is only heard inside mosques or community centres.

"There's definitely a lot of excitement," said Imam Abdisalam Adam, who is on the board of the Dar al-Hijrah mosque, from where the adhan will be broadcast.
"Some people see it as historic," Adam told Al Jazeera. "To the point ... that they're not doing it, able to see it in their lifetime." 

Recited by different representatives from mosques around the city, the call to prayer is expected to reach thousands in the Cedar-Riverside neighbourhood in Minneapolis, according to Jaylani Hussein, the executive director of Minnesota's Council on American-Islamic Relations (CAIR).

While Hussein says the community had discussed broadcasting the call for years, it became even more pressing this year when the coronavirus pandemic forced mosques to shut their doors and residents to stay inside. The coronavirus has infected more than 870,000 people nationwide and killed at least 50,000.
"We wanted to touch those individuals who frequent this mosque and this community," Hussein said. "If we cannot be physically together, at least this echo, this voice, this call to prayer can be an extension of us being together at this difficult time. To give some people some solace."
Ramadan - Minnesota.

The Dar al-Hijrah mosque in the Cedar-Riverside neighbourhood of Minneapolis, Minnesota [Courtesy of Abdisalem Adam] 
Ramadan is traditionally a time when Muslims worldwide regularly attend mosques for daily prayers and break their fasts together. But this year, most have been told to pray at home and forgo community iftars in favour of staying safe from the COVID-19 crisis.

Adam, the imam, said while the Muslim community is experience loss this Ramadan, they hope the call to prayer broadcast will create a "semblance of normalcy".

"With the loss of Friday prayers and the regular congregational prayers, we are hoping that this will give a sense of solace and connection to the spiritual needs of community members," he added. 

An avenue to greater investment?

The Cedar-Riverside neighbourhood is a densely populated area of Minneapolis that has historically been an entry point for many immigrants and today is home to large Somali and Oromo communities.

Ramla Bile, a Somali American who lives in a neighbourhood adjacent to Cedar-Riverside, has been active in the community for years. She welcomed the broadcast of the call to prayer, saying it will help people "feel the spirit of Ramadan in a way that is meaningful".

But she also hopes the city of Minneapolis, which provided the noise permit for the broadcast, will make bigger strides to invest in the community in even more tangible ways.

"There's been a lot of need and a lot hurt in the community in light of the COVID-19 pandemic. And then there's the ongoing conversation you've been having," she said, pointing to deep-seated Islamophobia, systemic racism and the need for infrastructure projects like sprinkler systems in high-rise buildings. 

"We need to see greater investments to support the most vulnerable members of our community," Bile said referring to the neighbourhood's elders, undocumented individuals, low-income families and others.

"Right now, we're waiting for a bailout for our micro-businesses who comprise our Somali malls, or a rent freeze for neighbourhood residents," she added.

For CAIR's Hussein and Imam Adam, they hope this Ramadan's call to prayer helps encourage other communities around the US to take similar steps.

"This will hopefully inspire others … to think about what could happen in future Ramadans and beyond," Hussein said.

Adam added that while the virus has devastated communities and upended daily life, it has also shown that "we're in this together".

"It just shows the significance of the global village and how interconnected and interdependent we are as a world community," he said. "I think that there will be a lot of change in our way of life for the better. I hope so."

 

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 19,2020

Washington, May 19: As the scientists across the world are struggling to develop a vaccine for combating coronavirus, US drugmaker Moderna announced on Monday (local time) that the phase I trial of its Covid-19 vaccine has shown positive early results.

The company is hopeful that it's vaccine could be available to the public as early as January next year. Several firms across the world are in the race to develop a vaccine for the deadly virus which has claimed over 3 lakh lives worldwide.

CNN citing Dr. Tal Zaks, Moderna's chief medical officer reported that "if future studies go well, the company's vaccine could be available to the public as early as January".

"This is absolutely good news and news that we think many have been waiting for for quite some time," Zaks was quoted as saying.

Moderna, based in Cambridge, Massachusetts announced that the vaccine developed neutralising antibodies to the virus at levels reaching or exceeding the levels seen in people who have naturally recovered from Covid-19, reported CNN.

These will be followed by phase 2 trials and phase 3 trials, which Moderna plans to start in July.

President Donald Trump had on Friday said that that the United States will be able to deliver a few hundred million doses of COVID-19 vaccine, under 'Operation Warp Speed', by the end of this year.

"I have very recently seen early data from a clinical trial with a coronavirus vaccine and this data made me feel even more confident that we'll be able to deliver a few hundred million doses of vaccine by the end of 2020 and we will do the best we can," Trump had said at a press conference at the White House on Friday.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.