Us-china Relations, Trade | featured news

In a move that escalates a trade row with the United States, China said it would ask the World Trade Organization (WTO) to adjudicate a dispute over U.S. punitive import duties on 22 Chinese exports, including solar panels and steel products.

China will impose punitive duties of up to 22 percent on large cars and SUVs exported from the United States, China's Commerce Ministry said on Wednesday, the latest in a series of trade disputes between the world's two largest economies.

China on Tuesday pledged easier access for U.S. companies to key sectors of its economy by removing barriers to its huge market in government contracts and offering a foothold to U.S. mutual funds.

At an elaborate color-guard ceremony welcoming President Hu Jintao of China, President Obama on Wednesday spoke of “universal rights.”

President Barack Obama said on Wednesday it was important to address currency rates with trading partners such as China to ensure U.S. goods were not facing a disadvantage.