The U.S. dollar strengthened in late trading on Thursday.
The dollar index, which measures the greenback against six major peers, added 0.21 percent to 97.824 at 15:00 (2000 GMT).
In late New York trading, the euro decreased to 1.1794 dollars from 1.1809 dollars in the previous session, and the British pound was down to 1.3549 dollars from 1.3663 dollars in the previous session.
The U.S. dollar bought 156.9 Japanese yen, higher than 156.82 Japanese yen in the previous session. The U.S. dollar was up to 0.7774 Swiss francs from 0.7766 Swiss francs, and it climbed to 1.3682 Canadian dollars from 1.3668 Canadian dollars. The U.S. dollar rose to 9.0363 Swedish kronor from 8.9864 Swedish kronor.
U.S. dollar ticks up
China urges the United States to respect a recent World Trade Organization (WTO) ruling that found U.S. clean energy subsidies under its Inflation Reduction Act inconsistent with WTO rules, the Ministry of Commerce said Thursday.
Ministry spokesman He Yadong made the remarks at a press briefing in Beijing when asked to comment on a statement by the Office of the United States Trade Representative regarding the ruling that requires the U.S. to withdraw the subsidies in question.
The U.S. side, while acknowledging it lost the case, said the ruling was wrong and claimed that existing WTO rules cannot address the issue of "overcapacity".
"As a WTO member, the U.S. should respect the ruling and comply with rules. The existing WTO rules were jointly negotiated and agreed upon by participants in the Uruguay Round, including the United States. As both a negotiating party and a signatory, the U.S. has an obligation to comply with its international treaty commitments," said He.
"The relevant actions and remarks by the U.S. are aimed at excusing its own violations of treaty obligations and abuse of subsidies and other protectionist practices, while attempting to shift the blame for insufficient industrial competitiveness and other domestic problems onto others. Such moves artificially interfere with and fragment global markets, undermining the stability of global industrial and supply chains," he said.
"The current international economic and trade order is facing severe shocks from unilateralism and protectionism, and safeguarding a multilateral trading system with the WTO at its core is the shared responsibility of all WTO members. We urge the U.S. side to earnestly respect WTO rulings, promptly correct practices that violate WTO rules, and uphold the rules-based multilateral trading order through concrete actions," said the spokesman.
China urges U.S. to respect WTO ruling against Inflation Reduction Act
