China prepares to cut coke export tax on WTO ruling

Aug 17, 2012 | 10:54 AM | None

Tags  coke, export tax, World Trade Organization, WTO

SHANGHAI, China — China may cut its export tax on coke by the end of the year to fall in line with World Trade Organization (WTO) rulings against the country’s alleged restrictions on raw material exports.

"Rumor has it that the Chinese government is deciding whether to cut export taxes on coke or to scrap the tax, because the time given to implement the WTO rulings expires Dec. 31," a source at a coal trading company said.

The WTO earlier this year backed claims brought by the United States, the European Union and Mexico that Chinese export tariffs and quotas on a range of raw materials broke WTO rules and distorted global markets. The WTO case was strongly supported by U.S. and E.U. steelmakers.....

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