The Chinese government is poised to launch an unprecedented trade war with the U.S. over arbitrators, and the arbitrators are coming.
The U.K.-based International Arbitration Centre said on Thursday that it has reached an agreement with the China Ministry of Commerce to use a Chinese court to enforce the arbitration agreement.
The Chinese government had objected to the use of a court in Beijing, and it has threatened to file a lawsuit over the arbitration.
In exchange for the court, the Chinese government will provide arbitration to arbitration panels in Hong Kong, Macau and Singapore, as well as arbitrators in New York, San Francisco and elsewhere, according to the IAC.
The arbitration agreement covers all U.N. members, including Canada and the U.
“The arbitrators have until September 1 to submit their findings, according the Iac.
The arbitrators’ decisions are binding.”
The U, which has been the arbitrator for the last four years, has been unable to get a court ruling in China, said Richard Painter, a senior fellow at the Peterson Institute for International Economics. “
It is unclear if the Chinese side will seek a new court or file a case with the World Trade Organization or the International Court of Justice.”
The U, which has been the arbitrator for the last four years, has been unable to get a court ruling in China, said Richard Painter, a senior fellow at the Peterson Institute for International Economics.
“They are a very powerful player and they have a very strong military and diplomatic presence.”
U.S.-China trade tensions rose last year as China imposed an arms embargo and other measures on its largest trading partner, prompting Washington to step up pressure on Beijing.
The United States has accused China of violating international law by using a tribunal to settle disputes.
The tribunal has not resolved all of the cases, but it has ordered China to pay billions of dollars in damages to victims of the North Korean nuclear weapons program and other crimes against humanity.
China has said the IACC arbitration process is fair and impartial and said it is prepared to take enforcement actions if the United States wants to challenge its jurisdiction.
The Us. government has said it will not seek to challenge the jurisdiction of the tribunal, which is a permanent member of the U’th Nations.