U.S. launches five WTO challenges to retaliatory tariffs
The United States on Monday launched five separate World Trade Organization dispute actions challenging retaliatory tariffs imposed by China, the European Union, Canada, Mexico and Turkey following U.S. duties on steel and aluminium.
U.S. Trade Representative Robert Lighthizer said in a statement that the retaliatory tariffs on up to a combined $28.5 billion worth of U.S. exports are illegal under WTO rules.
"These tariffs appear to breach each WTO member`s commitments under the WTO Agreement," Lighthizer said. "The United States will take all necessary actions to protect our interests, and we urge our trading partners to work constructively with us on the problems created by massive and persistent excess capacity in the steel and aluminium sectors."
WPL 2024 Auction Live Streaming: When and where to watch Womens Premier League Auction FREE Live Online and TV - Check Date and Time
India vs South Africa 2023-24: T20, ODI, Test Matches Full Schedule, Match Dates, Time in IST, Venues, Squad, Free Live Streaming Details
HDFC SKY redefines share market navigation with advanced demat account app for seamless wealth creation
RBI to set up cloud facility for financial sector and fintech repository; here is what you need to know
ICSE, ISC Board Exam 2024 date sheet released: Check board exam schedule, direct link, other details here
Lighthizer`s office has maintained that the steel and aluminium tariffs are acceptable under WTO rules because they were imposed on the grounds of a national security exception.
Lighthizer said last month that retaliation had no legal basis because the EU and other trading partners were making false assertions that the U.S. steel and aluminium tariffs are illegal "safeguard" actions intended to protect U.S. producers.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)