WTO members: US steel and aluminum tariffs may damage the metal market
Major WTO members have warned that US steel and aluminum tariffs may damage the steel and aluminum market. The member also revealed that members of the WTO such as the European Union and Japan also stated that the US steel and aluminum tariffs are improper and may damage the stability of the multilateral trading system.
Just a few days ago, WTO members hinted that they would like to use the WTO dispute settlement mechanism to determine the legality of US steel and aluminum tariffs. According to the WTO e-mail statement on October 19th, the EU, Canada, Mexico, Norway, Russia and Turkey requested the WTO to investigate the US steel and aluminum tariffs.
So far, nine WTO members have initiated complaints and asked the World Trade Organization to set up an expert group to try the US measures to increase steel and aluminum tariffs in March this year. Among them, the EU, Russia, Turkey, Canada and Mexico are seeking dispute rulings. The requirements of each country will be considered at the WTO Dispute Settlement Mechanism meeting on the 29th of this month.
News Date: Oct 24th, 2018 Reported by vanessa