March 31, 2011
Reuters quoted a person familiar with the case said China will this week appeal a World Trade Organisation ruling in a case against the European Union and saying the decision does not go far enough in its favor.
The December ruling sided with China in a dispute over European Union duties on Chinese-made screws and bolts known as fasteners and used in cars white goods and machinery. It marked a significant victory for China in its first WTO dispute against the EU, undermining Europe methods of taxing imports from countries it doesn't consider to be free market economies.
The EU appealed the ruling on Friday.
The person said while siding with China, the WTO decision dismissed Beijing argument that Brussels had made unfair comparisons between high and low quality screws and bolts. That had prompted China to appeal.
Under WTO rules, China has until Wednesday to lodge its appeal.
Wednesday, 30 Mar 2011
(Sourced from Reuters)
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