ZURICH, Nov 1 (Reuters) - A World Trade Organization (WTO) panel said on Friday that China could slap compensatory sanctions on U.S. imports worth $3.579 billion annually for the U.S. failure to remove anti-dumping duties, a figure that was roughly half what China had sought.
The decision came as the world’s two biggest economies try to clinch Phase 1 of a trade deal. President Donald Trump and U.S. negotiators are “very optimistic” about concluding it, White House adviser Larry Kudlow said.
In the WTO ruling, a three-member arbitration panel said Chinese exporters suffered impairment to trade valued at $3.579 billion annually. China may now ask the WTO’s Dispute Settlement Body for a green light to impose the retaliatory tariffs on imported U.S. goods valued up to that amount each year. (Reporting by Stephanie Nebehay, editing by John Miller)