China on Monday lambasted a WTO ruling in a row with the US over Washington’s measures to limit the import of solar panel cells, calling it “erroneous and dangerous.”
A WTO panel handed a victory to the US earlier this month, rejecting all four of China’s claims and saying that the US measures did not breach global trade rules.
China last week said that it would appeal the decision.
At the private meeting, China’s delegate expressed “deep concern with the systematically harmful findings made by the panel report,” a statement released by the Chinese delegation said.
“The erroneous and dangerous signal sent by this panel report to WTO members will lead to the abuse of safeguard measures and thus seriously undermine the rules-based multilateral trading system,” the statement said, adding that the ruling could encourage protectionism.
The US in 2018 imposed tariffs and a quota after US producers complained that imports of some crystalline silicon photovoltaic cells posed a risk to the US domestic industry.
The “safeguard” measures are due to be in place for four years, with annual reductions in the duty rates from an initial 30 percent.
The duties have applied to solar modules and, beyond a set quota, to solar cells.
China’s appeal will have no immediate effect, as the top WTO dispute settlement body does not have enough judges to function.
That is because the administration of former US president Donald Trump blocked judge appointments to the body and paralyzed its functions.
“The United States is disappointed that China has now decided to press onward by appealing the panel report in spite of overwhelming evidence of the damaging effects of China’s non-market practices,” the US delegate said at the meeting.
Merida Industry Co (美利達) has seen signs of recovery in the US and European markets this year, as customers are gradually depleting their inventories, the bicycle maker told shareholders yesterday. Given robust growth in new orders at its Taiwanese factory, coupled with its subsidiaries’ improving performance, Merida said it remains confident about the bicycle market’s prospects and expects steady growth in its core business this year. CAUTION ON CHINA However, the company must handle the Chinese market with great caution, as sales of road bikes there have declined significantly, affecting its revenue and profitability, Merida said in a statement, adding that it would
MARKET LEADERSHIP: Investors are flocking to Nvidia, drawn by the company’s long-term fundamntals, dominant position in the AI sector, and pricing and margin power Two years after Nvidia Corp made history by becoming the first chipmaker to achieve a US$1 trillion market capitalization, an even more remarkable milestone is within its grasp: becoming the first company to reach US$4 trillion. After the emergence of China’s DeepSeek (深度求索) sent the stock plunging earlier this year and stoked concerns that outlays on artificial intelligence (AI) infrastructure were set to slow, Nvidia shares have rallied back to a record. The company’s biggest customers remain full steam ahead on spending, much of which is flowing to its computing systems. Microsoft Corp, Meta Platforms Inc, Amazon.com Inc and Alphabet Inc are
RISING: Strong exports, and life insurance companies’ efforts to manage currency risks indicates the NT dollar would eventually pass the 29 level, an expert said The New Taiwan dollar yesterday rallied to its strongest in three years amid inflows to the nation’s stock market and broad-based weakness in the US dollar. Exporter sales of the US currency and a repatriation of funds from local asset managers also played a role, said two traders, who asked not to be identified as they were not authorized to speak publicly. State-owned banks were seen buying the greenback yesterday, but only at a moderate scale, the traders said. The local currency gained 0.77 percent, outperforming almost all of its Asian peers, to close at NT$29.165 per US dollar in Taipei trading yesterday. The
The US overtaking China as Taiwan’s top export destination could boost industrial development and wage growth, given the US is a high-income economy, an economist said yesterday. However, Taiwan still needs to diversify its export markets due to the unpredictability of US President Donald Trump’s administration, said Chiou Jiunn-rong (邱俊榮), an economics professor at National Central University. Taiwan’s exports soared to a record US$51.74 billion last month, driven by strong demand for artificial intelligence (AI) products and continued orders, with information and communication technology (ICT) and audio/video products leading all sectors. The US reclaimed its position as Taiwan’s top export market, accounting for