Mubasher: The World Trade Organization (WTO) on Wednesday agreed to hear complaints lodged by a group of countries over new US steel and aluminium tariffs.
In addition, it would hear complaints filed from Washington over retaliatory tariffs.
The WTO’s Dispute Settlement Body (DSB) agreed to set up panels to review US President Donald Trump’s decision to levy duties of 25% on steel and 10% on aluminium imported from a range of countries.
Separate panels would be established for the complaints filed by the European Union (EU), China, Canada, Mexico, Russia and Norway, after the US refused creating a single panel to hear all of their complaints, while a seventh request from Turkey for a panel would be discussed later.
Moreover, the DSB agreed to Washington’s request for three panels to rule on the legality of retaliatory duties levied by Canada, China and the EU.
The DSB also would address a US call for establishing a panel to review “certain Chinese measures pertaining to the protection of intellectual property rights.”
President Trump justified the new tariffs on the grounds that huge flows imports to the US poses a threat to national security.
The dispute over tariffs escalated into a tit-for-tat trade war between Washington and Beijing and mounting tensions between the US and its trade partners.