The World Trade Organisation (WTO) has upheld its decision that China's tariffs on imports of certain US steel products were illegal. Beijing had imposed duties on a particular kind of US steel, alleging that its makers were being given subsidies by the US government.
The Argentine government has began a round of consultations with the manufacturing sector to determine which capital goods from non Mercosur members can be listed for a higher common external tariff as was recently agreed by the trade block.
Brazilian newspaper Estado de Sao Paulo revealed documents from Chinese company Sun Falcon International Inc. offering triangulation scheme through Los Angeles port, the busiest container port in the US, to avoid Brazilian anti-dumping tariffs.
China has bought at least 70,000 tons of Argentine soybean oil after Beijing decided to unlock the imports ban that had resulted in a mounting-tension conflict. The move came after China agreed to allow all products coming from Argentina to enter its ports and was reported by Oil World magazine.
Argentina announced it would slap anti-dumping tariffs for six months on gas compressors from Brazil, a decision which is expected to lead to new trade clashes among Mercosur largest members.