WTO members concerned over U.S. steel tariffs

Updated 2018-04-24 09:19:03 Xinhua

Several members of the World Trade Organization (WTO) on Monday expressed their concerns and disappointment with the recent decision by the United States to impose tariffs on imports of steel and aluminum products, during a meeting of WTO Safeguards Committee.

Seven WTO members -- including Russia, India, Venezuela, Turkey, Norway, Switzerland, and Singapore -- joined China, which raised the matter, in expressing their respective concerns over U.S. tariff decision under Section 232.

China warned that the Section 232 actions severely damage the stability of the multilateral trading system and distort international supply chains, with considerable negative follow-up effects.

China said the U.S. decision to exempt certain exporters from the tariffs, including some of the largest suppliers to the U.S. market, clearly violated the WTO's most favored nation principle.

Russia noted that the whole process leading up to the imposition of tariffs lacked transparency and deprived foreign producers the right to provide evidence in the hearings.

The U.S. actions only cause instability in trade, lead to increased trade barriers, and create a lose-lose situation for all members, said Russian delegates.

Turkey suggested that the G20's Global Forum on Steel Excess Capacity provides a venue to discuss the problem of excess capacity, saying such problems should be resolved through coordinated efforts rather than resort to unilateralism.

For its part, Washington insisted the tariffs were taken on grounds of national security and were not a safeguard action, thus there were no grounds for request from members for consultations with the U.S. on the matter, under the Safeguards Agreement.

Despite widespread dissent from business groups and trading partners around the world, U.S. President Donald Trump on March 8 signed proclamations to impose a 25-percent tariff on imported steel and a 10-percent tariff on aluminum.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58March 27 2019 10:29:11

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16March 27 2019 10:29:11

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18March 27 2019 10:29:11

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords