China loses WTO bid to overturn U.S. law against unfair subsidies

GENEVA, March 27 Thu Mar 27, 2014 9:18am EDT

GENEVA, March 27 (Reuters) - China lost its bid to overturn U.S. legislation targeting unfair trade subsidies on Thursday, its second defeat in a World Trade Organization dispute within 24 hours.

A WTO dispute panel threw out China's claim that the U.S. "Public Law 112-99", signed by President Barack Obama in March 2012, broke world trade rules.

But it won another part of the case, in which it had argued that the United States had been wrong to punish some Chinese exports twice over - once for being subsidised and once for being "dumped", or sold at unfairly cheap prices.

Both sides have 60 days to appeal the ruling. (Reporting by Tom Miles; Editing by John Stonestreet)