GENEVA (Reuters) – China said it had opened a formal complaint against the new U.S. tariffs with the World Trade Organization on Friday, saying the measures violate WTO rules and requesting consultations.
Earlier, China announced retaliatory additional tariffs of 34% on U.S. goods, the most serious escalation in a trade war with President Donald Trump that has fed fears of a recession and touched off a global stock market rout.
“China has filed the WTO complaint with respect to the United States’ measures,” the Permanent Mission of China to the World Trade Organization said in a statement.
The new tariffs blatantly violate WTO rules, it added.
In the standoff between the world’s top two economies, Beijing also announced controls on exports of some rare earths which it dominates, potentially cutting the U.S. off from critical minerals vital to everything from smartphones to electric car batteries and defence.
https://finance.yahoo.com/news/china-files-complaint-wto-over-124325157.html