BUSINESS

Norway, EU ask WTO to set up panel on US steel, aluminium tariffs

October 18, 2018
File photo shows German Chancellor Angela Merkel, Svein Richard Brandtzaeg, president and chief executive Officer of Rolled Products and Norwegian Prime Minister Erna Solberg are seen during the official opening of a production line for the car industry at a branch of Norway's Hydro aluminum company in Grevenbroich, Germany. — Reuters
File photo shows German Chancellor Angela Merkel, Svein Richard Brandtzaeg, president and chief executive Officer of Rolled Products and Norwegian Prime Minister Erna Solberg are seen during the official opening of a production line for the car industry at a branch of Norway's Hydro aluminum company in Grevenbroich, Germany. — Reuters

OSLO — Norway, the European Union and several other countries asked the World Trade Organization (WTO) on Thursday to set up a dispute resolution panel to address US tariffs on steel and aluminum.

The United States imposed a 25 percent duty on steel imports and a 10 percent tariff on aluminum imports, effective from March 23 in what US. President Donald Trump said was a move to protect US metal makers.

"We believe that additional US duty on steel and aluminum is contrary to WTO rules," Norwegian Foreign Minister Ine Eriksen Soereide said in a statement.

"Therefore, together with the EU and several others, we asked today the WTO to establish a dispute resolution panel on the US additional duty," she said.

Norway said initial consultations with the United States had not led to an agreeable solution, and therefore the Nordic country had joined others in asking the WTO to set up the panel to obtain an independent assessment of the matter.

Norwegian exports of steel and aluminum in the categories affected by additional duties were worth close to 36 billion Norwegian crowns ($4.36 billion) in 2017, according to the Foreign Ministry.

"Although our exports to the United States of steel and aluminium are modest, this case is fundamentally important," Soereide said. "An open economy such as Norway is dependent on the rule-based multilateral system functioning."

The European Union is by far the largest market for Norwegian steel and aluminum.

In Brussels, meanwhile, the EU, Norway and Switzerland sought Asian support for free trade, the Iran nuclear deal and fighting global warming at a regional summit that included China, Japan and Russia as a counterbalance to a more protectionist United States. — Reuters


October 18, 2018
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