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Dealing With Steel And Aluminum Tariffs EU's WTO Accession To China

Apr 25, 2018

On Monday, the European Union requested to join China’s complaint to the WTO to deal with the steel and aluminum tariffs that the United States plans to introduce.


The U.S. government set a 25% steel tariff and a 10% aluminum tariff on the grounds of national security, but made a temporary exemption to the EU and the exemption will expire on May 1.


China has already complained to the WTO about steel and aluminum tariffs. This is the first step in the WTO dispute settlement mechanism.


The WTO said on Monday that the EU has made a formal request to join negotiations as a major trading interest in the matter. According to the WTO, the EU pointed out that its interest in this matter is very great, because if the exemption is over, then U.S. measures will hit EU exports.


Hong Kong, India, Russia and Thailand all made requests to join the consultation. The European Union was the first party to obtain an exemption but still joined the consultation.


On the past Saturday, senior EU officials said that Europe will not "select sides" between China-US trade frictions. The EU is China’s largest trading partner. The relevant position of the EU’s senior officials plays a decisive role in the Sino-US trade dispute.


Previously, the editor-in-chief featured in the "Close-up | China and the United States" of the "One Alternative!" G2 fight, who can stay away? "It is mentioned in its own interest that the EU's "conclusion" is that it does not want to elect its own station. On the one hand, the European Union "reproached" Trump's steel and aluminum tariffs. On the one hand, it hoped that there would be no need to elect a sideline team. The EU has always emphasized that there is no winner in the trade war and hopes that the two sides will remain calm.


The EU is China’s largest trading partner. According to the statistics of the European Commission, bilateral bilateral trade in goods and services exceeds US$1 billion. At the same time, the EU is also China's largest investor. As of the end of 2015, European investment in China totaled approximately 207 billion U.S. dollars, compared with the U.S. investment of only 84 billion U.S. dollars during the same period.


In addition to the EU, Canada, Mexico, Australia, Argentina, Brazil, and South Korea also received temporary exemptions. And South Korea's exemption period has been extended indefinitely. The European Commission stated that the group hopes to obtain a permanent exemption without conditions.


In addition, India, Russia, Norway, Singapore, Switzerland, Turkey, and Venezuela expressed their concerns or disappointment about the U.S. steel and aluminum tariffs.


Earlier this month, the Ministry of Commerce of the People's Republic of China filed a consultation request on the import of steel and aluminum tariffs by the United States and formally initiated a dispute resolution procedure.


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