Wednesday, 18 July, 2018

Russian Federation initiates WTO dispute over USA steel, aluminum duties

U.S. President Donald Trump speaks to the press aboard Air Force One en route to Bedminster New Jersey from Joint Base Andrews Trump makes veiled WTO threat after EU warning on car tariffs
Nellie Chapman | 04 July, 2018, 17:28

President Trump is no fan of the World Trade Organization, and Axios reports that he ordered his advisers to work up a bill that would give him broad power to circumvent WTO rules and negotiate his own deals.

According to the embassy's memo, "American public security is not sufficient" in protecting against gun violence. "The request was circulated to WTO members on 2 July", the press service said.

The global commercial order is being shaken by the Trump administration's use of an obscure USA trade-law provision on national security to justify steel and aluminum tariffs against a host of countries including defence allies. This is the seventh complaint initiated by WTO members against U.S. duties on steel and aluminum.

Morici also criticized China's unfair trade practices, including the country's alleged theft of intellectual property.

The United States introduced higher import duties on steel and aluminum products on March 23 of this year.

In Beijing, Chinese Foreign Ministry spokesman Lu Kang said summit preparations were proceeding, and details would be announced in due course. China's list is created to inflict pain on USA farmers and other groups that are important to President Donald Trump's political base.

The official China Daily said the United States was intentionally trying to prevent China from developing to keep it from challenging the former's role in the global economic order. "It was never comfortable with the West being one bloc", said a European official involved in EU-China diplomacy.

'WTO has its flaws, but the 'United States Fair and Reciprocal Tariff Act, ' aka the U.S. FART Act, stinks.

European envoys say they already sensed a greater urgency from China in 2017 to find like-minded countries willing to stand up against Trump's "America First" policies.

Australia won't escape fallout if the USA and China fall into a trade war. Washington is conducting a national security study that could lead to tariffs on imported cars and auto parts.

"We don't know if this offer to open up is genuine yet", a third European Union diplomat said.