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Financial News: EU Opens Case Against US In WTO Over

EU Opens Case Against US In WTO Over Steel And Aluminum Tariffs

06/01/2018 - 11:22:00 (RTTNews)

(RTTNews) - In response to the United States' decision to impose additional duties of 25 percent and 10 percent respectively on imports of steel and aluminum from the European Union, the European bloc said it has opened a case against the US in the WTO.

EU Commissioner for Trade Cecilia Malmström also announced that it is preparing to trigger its rebalancing measures targeting a number of US products with extra duties.

The EU announced its potential rebalancing to the WTO on 18 May, in line with the Organization rules, could trigger them 30 days later. An investigation into the possible imposition of measures on the market is in progress.

The US measures is estimated to affect EU exports worth EUR 6.4 billion.

European Commission President Jean-Claude Juncker said the US move is protectionism. He alleged that the US is playing the hands of those who are responsible for the problem. He insisted that the EU "will defend the Union's interests, in full compliance with international trade law."

"We did everything to avoid this outcome," said Malmström.

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