A bill targeting Chinese imports that is waiting for President Barack Obama’s signature violates international law, according to the Chinese commerce minister, and the country will not adjust its currency to fix a problem that belongs to the U.S. alone.
Reuters reported Wednesday that Chen Deming was critical of the trade bill, which would allow trade duties to be imposed on subsidized goods from China and Vietnam. He also said that the trade imbalance was Washington’s problem and that China would take no steps to affect it.
Chen was reported saying, “We follow the rules of the WTO, but we have no obligation to follow domestic laws or regulations in any specific country that go beyond international rules.”
The bill, passed Tuesday, followed a U.S. court ruling in December that said the U.S. Commerce Department did not have authority to impose countervailing (anti-subsidy) duties on goods from “non-market economies.”