🚀 ProPicks AI Hits +34.9% Return!Read Now

U.S. seeks WTO dispute panel in chicken dispute with China

Published 27/05/2016, 21:27
© Reuters.  U.S. seeks WTO dispute panel in chicken dispute with China
TSN
-
PPC
-

WASHINGTON (Reuters) - The Obama administration on Friday asked the World Trade Organization to establish a dispute settlement panel to rule on U.S. claims that China is unfairly continuing anti-dumping duties on U.S. broiler chicken products.

The U.S. Trade Representative's office said in a statement it made the request after consultations with Chinese officials on May 24 failed to resolve the dispute over the duties.

China first imposed the duties on chicken imports from the United States in 2010 on grounds they were priced below fair market value and this was injuring Chinese producers.

China revised the duties lower in 2014 after the WTO agreed with U.S. objections that the original duties violated WTO rules.

USTR on May 10 brought a new challenge to China's revised anti-dumping duties, arguing they violate WTO rules partly because China failed to properly calculate U.S. poultry production costs and failed to conduct transparent investigations.

The U.S. Agriculture Department estimated U.S. poultry producers lost over $1 billion (£683 million) since the duties were first imposed, with annual U.S. chicken exports to China down over 90 percent from 2009 levels.

China currently levies anti-dumping duties up to 73.3 percent and anti-subsidy taxes up to 4.2 percent on U.S. firms including Tyson Foods (N:TSN) and Pilgrim's Pride (N:PPC).

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.