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During recent weeks the number of disputes within the World Trade Organization against the US tariffs impacting steel trade have grown, with Europe and Russia being especially active.
On 18 October the European Union authorities filed a request to the WTO and its dispute settlement body to establish a panel to examine the matter. This latest request confirms the intention – first shown in June with the request for a consultation with the US on this issue – to challenge the duties.
The consultation took place in July with the aim of reaching a satisfactory settlement, but “… unfortunately, they failed to settle the dispute,” the EU authorities say.
“Section 232 is inconsistent with the balance of obligations and rights set out in the WTO Agreement,” the EU adds in the document.
RUSSIA AND OTHERS
Russia, meanwhile, is also joining the increasing number of countries that are disputing the legality of import taxes on steel and aluminium imposed by the United States in April.
The country's economy ministry has made a request to the WTO that an arbitration panel to be set up, following a series of formal consultations on 30 August. The consultations failed to produce a mutually beneficial way of resolving the dispute, the Russian ministry says.
China, India, Canada, Mexico, Norway, Switzerland and Turkey are also already disputing the tariffs. Should other countries join Russia, Turkey and the EU in asking WTO for arbitration in the matter, United States will be forced to defend the tariffs on several panels.
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Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous