Over 40 countries at WTO object to US car tariff plan

Wednesday, July 4, 2018 | Tag Cloud Tags: , , , , , , , , , ,

(Worthy News) - Major US trading partners including the European Union, China and Japan voiced deep concern at the World Trade Organisation (WTO) on Tuesday (Jul 3) about possible US measures imposing additional duties on imported autos and parts.

Japan, which along with Russia had initiated the discussion at the WTO Council on Trade in Goods, warned that such measures could trigger a spiral of counter-measures and result in the collapse of the rules-based multilateral trading system, an official who attended the meeting said.

Over 40 WTO members, including the 28 countries of the European Union - warned that the US action could seriously disrupt the world market and threaten the WTO system, given the importance of cars to world trade. [ Source" Channel News Asia (Read More...) ]

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