October 12, 2016
Partner Larry Lasoff was quoted in the Metal Center News article “China's Road to Market Economy Status Getting Steeper.” On December 11, a one-sentence provision in the agreement that granted China access to the World Trade Organization will expire. How the dispute is resolved could have a considerable impact on global trade. The provision, in two parts, claims that if Chinese producers can show free market conditions prevail in their industry, WTO members must consider China’s domestic prices as a legitimate basis for international trade. More significantly, the second part states that if such conditions are not met, WTO members can use a measure other than Chinese prices for trade considerations. During the AMM Ferroalloys Conference in Chicago, Mr. Lasoff noted that Canada has repealed legislation requiring it to grant China status, and a similar debate is under way in Europe. “Down the road, I think the issue will be litigated,” he said.
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