Tuesday, April 17, 2018

The EU wants compensation for US import duties

The European Union (EU) has appealed to the World Trade Organization (WTO) to demand compensation from the United States for the high import duties the White House Administration has imposed on steel and aluminum, Reuters reports. An earlier complaint was also filed by China. In March, President Donald Trump decided to impose import duties of 25% on steel and 10% on aluminum. Earlier, the EU said it did not accept the US's justification that its actions would defend its national security.
The European authorities believe that US tariffs have been imposed to protect the local industry.  "Notwithstanding the characterization of these actions by the US as security measures, they are essentially protective measures," the EU statement said. Washington insists that duties are not subject to WTO rules.
The EU says it wants to consult with the United States as soon as possible. At least at this stage, Canada, Mexico, Australia, Argentina, Brazil, South Korea and the EU are excluded from the penalty tariffs.

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