Commodities and Futures News

WTO panel rules against Turkey in metals duties dispute with US

2023.12.19 11:15


© Reuters. FILE PHOTO: The World Trade Organization (WTO) logo is pictured in front of their headquarters in Geneva, Switzerland, October 28, 2020. REUTERS/Denis Balibouse/File Photo

GENEVA (Reuters) -A World Trade Organization dispute panel ruled on Tuesday that Turkey should repeal additional duties imposed on the United States in retaliation for U.S. steel and aluminium tariffs, after Ankara’s measure was found to be “inconsistent” with WTO policy.

“The Panel recommends that Turkey bring its WTO-inconsistent measure into conformity with its obligation,” the panel said in a report, referring to the Turkish duties.

Turkey acted after Washington imposed a 25% duty on steel imports and a 10% duty on aluminium imports in March 2018 based on the Donald Trump administration’s “Section 232” national security investigation into steel and aluminium imports.

The United States initiated dispute settlement proceedings against Turkey over the additional duties, as well as against the European Union, Canada, Russia and other countries over their own retaliatory measures.

The United States welcomed Tuesday’s ruling.

“Turkey’s decision to pursue this dispute highlights the contradiction of both suing the United States in the WTO and at the same time unilaterally retaliating with tariffs,” said Sam Michel, spokesperson for the U.S. Trade Representative (USTR).

Turkey’s permanent mission to the WTO in Geneva did not immediately respond to a request for comment.

The United States agreed to remove tariffs on EU imports in 2021, but President Joe Biden’s administration has otherwise kept in place the metals tariffs that were one of the centrepieces of Trump’s America First strategy.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 99,048.54 1.15%
ethereum
Ethereum (ETH) $ 3,466.88 0.00%
tether
Tether (USDT) $ 0.999406 0.14%
xrp
XRP (XRP) $ 2.31 0.05%
bnb
BNB (BNB) $ 701.25 0.95%
solana
Solana (SOL) $ 197.26 0.74%
dogecoin
Dogecoin (DOGE) $ 0.331469 0.39%
usd-coin
USDC (USDC) $ 1.00 0.22%
staked-ether
Lido Staked Ether (STETH) $ 3,462.53 0.05%
cardano
Cardano (ADA) $ 0.913259 1.47%
tron
TRON (TRX) $ 0.257257 0.64%
avalanche-2
Avalanche (AVAX) $ 40.12 1.92%
chainlink
Chainlink (LINK) $ 24.41 3.14%
the-open-network
Toncoin (TON) $ 5.93 3.07%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,116.10 0.14%
shiba-inu
Shiba Inu (SHIB) $ 0.000023 0.83%
sui
Sui (SUI) $ 4.53 1.05%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 98,772.46 1.35%
hedera-hashgraph
Hedera (HBAR) $ 0.312627 4.38%
stellar
Stellar (XLM) $ 0.382268 4.33%
polkadot
Polkadot (DOT) $ 7.46 0.39%
weth
WETH (WETH) $ 3,466.88 0.17%
hyperliquid
Hyperliquid (HYPE) $ 28.25 3.84%
bitcoin-cash
Bitcoin Cash (BCH) $ 460.27 1.73%
leo-token
LEO Token (LEO) $ 9.51 0.34%
uniswap
Uniswap (UNI) $ 13.76 4.74%
litecoin
Litecoin (LTC) $ 108.53 0.47%
bitget-token
Bitget Token (BGB) $ 5.76 17.34%
pepe
Pepe (PEPE) $ 0.000018 3.89%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,660.95 0.09%
near
NEAR Protocol (NEAR) $ 5.38 2.35%
ethena-usde
Ethena USDe (USDE) $ 0.999076 0.15%
aave
Aave (AAVE) $ 368.98 1.89%
usds
USDS (USDS) $ 0.999131 0.35%
internet-computer
Internet Computer (ICP) $ 11.09 0.05%
aptos
Aptos (APT) $ 9.55 1.00%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.512001 1.46%
crypto-com-chain
Cronos (CRO) $ 0.157029 4.05%
vechain
VeChain (VET) $ 0.051373 2.55%
mantle
Mantle (MNT) $ 1.23 0.32%
ethereum-classic
Ethereum Classic (ETC) $ 27.09 2.98%
render-token
Render (RENDER) $ 7.49 3.32%
bittensor
Bittensor (TAO) $ 497.43 0.76%
mantra-dao
MANTRA (OM) $ 3.80 1.80%
monero
Monero (XMR) $ 195.66 5.20%
whitebit
WhiteBIT Coin (WBT) $ 24.92 0.15%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.34 2.33%
dai
Dai (DAI) $ 1.00 0.33%
arbitrum
Arbitrum (ARB) $ 0.79533 1.55%
filecoin
Filecoin (FIL) $ 5.28 2.57%