Two of the biggest food companies in the U.S. were fined a $16 million penalty for allegedly manipulating the wheat market for its own gain as part of a settlement agreement reached in August. When the federal agency posted a news release about it, the two food companies complained the agency broke its part of the agreement.
The complaint, the 15th filed against China by the Obama administration since 2009, argues that China is not “transparent, predictable or fair” in its administration of tariff-rate quotients, which protect its domestic farmers by taxing imports at a higher rate.
ByJelter Meers/The Midwest Center for Investigative Reporting |
The United States filed a complaint Tuesday against China for violating World Trade Organization commitments by excessively subsidizing its corn, wheat and rice production — hampering the global sale of American commodities in the process.