US appeals WTO ruling on its multi-billion tariffs on China

The US and China have been engaged in a tit-for-tat trade dispute, with Washington complaining about the huge imbalance in favor of Beijing. (AFP file photo)
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Updated 26 October 2020

US appeals WTO ruling on its multi-billion tariffs on China

  • Washington had not justified why the tariffs imposed against China were a justifiable exception to its obligations

GENEVA: The United States lodged an appeal on Monday against a WTO ruling last month that found US tariffs imposed on China in 2018 breached global trade rules, a World Trade Organization (WTO) official said.
A three-person panel had ruled that Washington had not justified why the tariffs imposed after a Section 301 investigation against China were a justifiable exception to its obligations.
The US delegation, in a speech seen by Reuters announcing its appeal, said that the panel report “reflects a major, missed opportunity for the WTO to begin to address the most serious problem faced by every member that seeks a balanced and fair world trading system: namely, aggressive, state policies that seek to dominate broad industrial sectors.”


Egypt plans big rail expansion, nears agreement with Bechtel

Updated 4 min 16 sec ago

Egypt plans big rail expansion, nears agreement with Bechtel

  • Egypt also plans a 438.5km fast rail at a cost of $8.2 billion

CAIRO: Egypt is rushing ahead with plans for an expansion of its metro and railway networks and is near agreement with Bechtel to implement Cairo’s sixth metro line, Transport Minister Kamel Al-Wazir said on Monday.

Speaking to the American Chamber of Commerce, Wazir said most of the bigger transport projects, which also include dry ports and river transport, should be finished by the end of 2024.

Egypt was working on a memorandum of understanding with Bechtel for feasibility studies and implementation of the $5 billion, 30km sixth metro line, he said.

“Just yesterday we had the contracts and we quickly reached near-agreement,” Wazir said.

“We told them to submit a written offer. If we reach agreement we will begin working at once and expedite all the contracts and agreements.”

Egypt had lined up finance for the metro line from Canada, America, Britain, France and Japan, Wazir said. He did not give its route, but reports have said it will run east of the Nile from north to south.

Last week, Egypt’s Orascom Construction said it and Japan’s Mitsubishi Corporation had signed an $800 million contract with Egypt’s National Authority for Tunnels for work on the 19km first phase of Cairo’s fourth metro line, with financing from Japan.

That line will extend underground from central Cairo to the Pyramids to the west, connecting 16 stations.

Among planned new railways around Cairo are a 49km $175 million line from 6th of October city to the Nile north of Cairo, a 69km $235 million cargo line from Bilbeis to eastern Cairo and a $435 million, 227km dual line to Atay Al-Baroud on the western edge of the Delta.

Egypt also plans a 438.5km fast rail at a cost of $8.2 billion.

In Alexandria it plans a $1.7 billion metro line to the eastern suburb of Abu Qir and a $406 million upgrade of an above-ground tramline through the city.