(Yicai Global) Sept. 12 -- China asks for the authorization from the World Trade Organization (WTO) to impose an annual trade sanction of 7 billion U.S. dollars on U.S. goods, as a result of the failure of the United States to comply with a WTO's ruling, according to documents published on Tuesday by the WTO.
A document circulated to all WTO members said China requests authorization from WTO's Dispute Settlement Body (DSB) to "suspend concessions or other obligations" with respect to the U.S. "at a level equivalent to the nullification or impairment suffered", due to the failure of the U.S. to comply with the recommendations and rulings of the DSB.
The level of nullification or impairment totals approximately 7.043 billion USD annually, added the document.
China won a WTO ruling in 2016 in a dispute on certain methodologies applied by the U.S. during its anti-dumping proceedings. The ruling was later confirmed by an appeal last year. However, China considers that "no substantive effort and progress has been made" by the U.S. to fulfill its implementation obligation.