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US wins WTO ruling against China grain import quotas
short by Shruti Maria Mahendar / on 19 Apr 2019,Friday
The US has won a World Trade Organization (WTO) ruling against China's use of tariff-rate quotas (TRQ) for rice, wheat and corn. TRQs are two-level tariffs, with limited imports allowed at the lower 'in-quota' tariff and subsequent imports charged an 'out-of-quota' tariff, which is generally much higher. The US argued that the quotas limited market access for its grain exports.
short by Shruti Maria Mahendar / 12:15 am on 19 Apr
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