China criticizes WTO auto parts case

[Omaha Steve]

http://money.excite.com/ht/nw/bus/20060917/hle_bus-pek248665.html

China criticizes WTO auto parts case

Sunday September 17, 12:50 AM EDT

BEIJING (Reuters) - China has expressed regret over a request by the European Union, the United States and Canada for a World Trade Organization (WTO) panel to hear their complaint about China's tariff treatment of foreign auto parts.

The three said on Friday the time for consultation had run out in a dispute with Beijing over rules that assign a higher full-vehicle tariff to imported auto parts if they account for 60 percent or more of the value of a final vehicle.

Chong Quan, spokesman for the Ministry of Commerce, said the regulations were meant to keep "criminal elements" from exploiting the difference between tariff rates for entire automobiles and auto parts and to protect consumers' interests, and were in line with WTO rules.

"In its discussions with the EU, United States and Canada, China has already clarified this point and showed great sincerity," Chong said in a statement on the ministry's Web site (www.mofcom.gov.cn). "We regret the request ... for a panel to be set up."

FULL stroy at link above.