World Trade Organization (WTO) announced on the night of March 27 in a report on China’s suing the US for its tariff amendment that the double remedy (which means the overlap of anti-dumping and anti-subsidy duty) imposed by the US toward products imported from China was illegal, which will be conducive to Jiangsu’s export to the US, according to experts.
Trade friction has become one of the major obstacles hindering China’s products going to the outside world and the US is the country that imposed the highest anti-dumping and anti-subsidy tax on Jiangsu’s products, according to a person from the Commerce Department of Jiangsu Province.
A total of 3,791 companies in Jiangsu have been involved in 166 trade frictions (including cases for review) with the US in 2013, with a total amount of US$2.9 billion. The victory over the Sino-US trade conflict this time means that the US will have to abolish the double remedy directed at imports from China, and Jiangsu, as a major stakeholder in Sino-US trade, will benefit a lot from the reduced tax rate.
