Daily Management Review

WTO Says Complaint Filed On Trump Tariffs On Steel And Aluminum By China


04/10/2018




The World Trade Organization has said that a complaint has been filed with it by China on Tuesday against the high tariffs on import that have been imposed by the U.S. President Donald Trump in steel and aluminum.
 
While the recent series of tariff related tensions between the two countries has raised concerns in the world markets about an impending trade war between the two largest economies of the world, according to many analysts it is but just one aspect of the deep gorge between the Trump and Chinese President Xi Jinping's government over trade and trade practices. In a separate spat over allegations that Chinese companies are stealing American intellectual property in the field of technologies, the Trump administration has also threatened to impose high tariffs on the import of certain Chinese products into the country worth $50 billion.
 
According to the WTO, a period of 60 days has been requested by China to hold negotiations and consultations with the United States about the tariffs imposed on steel and aluminum. It is only after such consultations do not succeed in brining out a resolution to the dispute can China ask for a ruling about the issue form a panel of trade experts with the WTO.
 
International trade rules have bene violated by the Trump administration in the implementation of an additional duties of 25 percent on steel and 10 percent aluminum, according to China.
 
In the Chinese steel and aluminum industries, there is more supply than there is demand for the metals in the domestic market and therefore the manufacturers have to seek out export markets in order to survive and grow. There are allegations by the trading partners of China such as the U.S. and the European Union that jobs in those markets are being threatened because Chinese manufacturers of steel and aluminum are offering the metals at abnormally low prices.
 
Vey little steel and aluminum is imported in eth U.S, from China because of former hikes in import tariffs that were imposed to reduce impact of the so called improper subsidies to Chinese producers according to the allegations of Washington.
 
On march 23, a list of 106 U.S. products was issued by the Chinese authorities that included products such as pork, apples, orange juice and steel pipes which are to be subjected to high import tariffs into China and which the country claims have been drawn up as a counter measure for the Trump tariffs. These would be implemented if there is failure in negotiating a arriving at a settlement to reduce the dispute over tariffs in steel and aluminum.
 
(Source:www.cnbc.com)






Science & Technology

Is UAV drone industry falling into decay?

UK Scotland Yard employs AI to deal with frauds

US sets to fight robocalls outbreak

Top 7 green energy innovators

Volvo’s New Car Uses Blockchain For Recycled Cobalt

False Memories Can Be Created By Fake News On Social Media, Shows A Study

DEF CON Hosts Auto-Makers And Cybersecurity Enthusiasts

WHO found no danger in microplastics in drinking water

Apple starts testing Chinese OLED screens for iPhone 12

Analysts: Google Search is losing clicks

World Politics

World & Politics

US FAA invites representatives from 50 countries to discuss 737 MAX certification

Iran Blamed By US’s Pompeo For The Drone Attacks On Saudi Oil Facility

IMF: Georgieva is the only candidate to replace Lagarde

Saudi Arabia to issue tourist visas

USA introduces sanctions against Iranian space agencies

Investments continue to flow into Cape Verde and exceed expectations of Minister of Finance Olavo Correia

USA, UK to create a working group on economics

Global Fashion Companies Support Environment Protection At G7 Summit