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4/1/06

China, US and EU in tariffs row

JTW News

"China, US and EU in tariffs row
China has said it 'regrets' a decision by the US and European Union (EU) to step up a row over car parts imports.
The US and EU have accused China of imposing illegal tariffs to prevent foreign components being imported for use in Chinese car assembly plants.

The two have now turned to the World Trade Organisation (WTO) to open up the $19bn (£10.8bn) auto parts market.

The row is the latest in a series of disputes triggered by China's growing muscle in the global trade market.

Brussels and Washington have now taken formal steps to resolve the row. "

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