China, Norway, the European Union and other countries have requested the WTO to set up a US steel and aluminum tariff group.

Published: Oct 19, 2018 14:31

China, Norway, the European Union and other countries have requested the WTO to set up a US steel and aluminum tariff group.

Negotiations with the US under the WTO dispute settlement mechanism failed to address China's concerns, prompting China to request the WTO to set up a panel of experts.

Norway, the European Union and several other countries on Thursday also asked the World Trade Organization (WTO) to set up a dispute resolution panel on steel and aluminum tariffs to resolve the issue of tariffs imposed by the United States on steel and aluminum.

Norwegian Foreign Minister Ine Eriksen Soereide said in a statement, "We believe that the United States levies steel and aluminum tariffs on imports in violation of the WTO rules." Therefore, together with the European Union and several other countries, we have requested the WTO to set up a dispute resolution panel on additional tariffs in the United States.

Norway indicated that preliminary consultations with the United States had not reached a satisfactory solution and that the Nordic countries, together with other countries, had requested the establishment of a WTO panel to obtain an independent assessment of the matter.

"while our exports of steel and aluminum to the United States are modest, this is fundamentally important, and Norway's open economy also depends on the functioning of the rules-based multilateral trading system," Soereide stressed.

The EU is by far the largest market for Norwegian steel and aluminium.

At the same time, Brussels, the European Union, Norway and Switzerland are all seeking to work with Asian countries to support the continuation of free trade.

(note: if copyright issues are involved, please contact SMM and we will deal with them in a timely manner.)

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
Fed Governor Milan Pushes for Over 100 Basis Points Cut, Contradicts Barkin on Caution
18 hours ago
Fed Governor Milan Pushes for Over 100 Basis Points Cut, Contradicts Barkin on Caution
Read More
Fed Governor Milan Pushes for Over 100 Basis Points Cut, Contradicts Barkin on Caution
Fed Governor Milan Pushes for Over 100 Basis Points Cut, Contradicts Barkin on Caution
Federal Reserve Governor Milan pointed out that it is necessary for the US Fed to cut interest rates by more than 100 basis points this year. At the same time, he is very much looking forward to the performance of Kevin Warsh as Fed Chairman. However, Richmond Fed President Barkin emphasized that monetary policy must remain cautious until inflation fully pulls back to the target level, thereby ensuring the stability of the labour market.
18 hours ago
Democratic Senators Demand Delay in Fed Nomination Amid Criminal Investigation
18 hours ago
Democratic Senators Demand Delay in Fed Nomination Amid Criminal Investigation
Read More
Democratic Senators Demand Delay in Fed Nomination Amid Criminal Investigation
Democratic Senators Demand Delay in Fed Nomination Amid Criminal Investigation
All 11 Democratic members of the US Senate Banking Committee jointly sent a letter to the committee's chairman, Tim Scott, requesting that all nomination processes for the prospective Fed Chairman, Kevin Warsh, be postponed until the criminal investigation into current Fed Chairman Powell and other board members is concluded. However, Scott stated that Warsh's confirmation was a done deal.
18 hours ago
Fed to Keep Large Banks' Capital Levels Unchanged, Postpones Stress Test Reforms Until 2027
18 hours ago
Fed to Keep Large Banks' Capital Levels Unchanged, Postpones Stress Test Reforms Until 2027
Read More
Fed to Keep Large Banks' Capital Levels Unchanged, Postpones Stress Test Reforms Until 2027
Fed to Keep Large Banks' Capital Levels Unchanged, Postpones Stress Test Reforms Until 2027
The US Fed has announced that it will maintain the capital levels of large banks unchanged during the upcoming stress test cycle (corresponding to the 2026 cycle). At the same time, the US Fed is planning multidimensional reforms to this annual test, aiming to enhance its transparency. The US Fed's Vice Chair for Supervision, Bowman, revealed that adjustments to the stress capital buffer requirements for large banks will be postponed until 2027. This move is intended to provide the US Fed with sufficient time to evaluate potential flaws that may be exposed in its testing models when assessing banks' financial conditions under simulated economic downturn scenarios.
18 hours ago
China, Norway, the European Union and other countries have requested the WTO to set up a US steel and aluminum tariff group. - Shanghai Metals Market (SMM)