On December 9, a WTO panel ruled that the US Section 232 tariffs on Chinese steel and aluminum products violated WTO rules, rejecting the US’ defense of invoking the WTO security exception.
SEATTLE (Scrap Monster): The China Iron and Steel Association (CISA) and China Nonferrous Metals Industry Association on Monday expressed high appreciation and firm support for the WTO’s ruling that the US tariffs on Chinese steel and aluminum products were in breach of its rules, and they urged the US to correct its wrongdoings and create a good international trade environment.
The WTO panel’s ruling is solemn proof that the US is practicing unilateralism and protectionism in the name of national security, which has seriously undermined the rules-based multilateral trading system, the CISA said.
On December 9, a WTO panel ruled that the US Section 232 tariffs on Chinese steel and aluminum products violated WTO rules, rejecting the US’ defense of invoking the WTO security exception.
Since March 23, 2018, the US has imposed a 25 percent tariff on Chinese steel products and 10 percent on aluminum products, citing national security. The measure has not only been jointly opposed by a number of WTO members, but also widely criticized within the US.
The CISA noted that China’s exports of steel and aluminum products to the US accounted for a small percentage, and trade between the two countries is based on the strong complementarity of the steel and aluminum industries in China and the US. This is completely in line with fair market-oriented principles.
Bilateral cooperation did not cause any damage to the US, but benefited downstream customers and played a vital role in promoting the development of related fields in the US, it said.
China’s steel and aluminum industries hope that the US will respect the panel’s ruling and WTO rules, rectify the violations and cancel the tariffs as soon as possible, in a bid to work with China to create a good international steel and aluminum trade environment and jointly safeguard the multilateral trading system, the CISA noted.
Compared with the unreasonable US actions, China’s steel and aluminum industries have always had the core goal of meeting domestic demand and achieving high-quality development, according to CISA.
For instance, China’s steel and aluminum industries have been eliminating outdated production capacity since 2010 and reducing steel and electrolytic aluminum production capacity. The sectors have also been strictly controlling new capacity, strongly promoting the healthy and sustainable development of the world’s steel and aluminum industries.
Courtesy: www.globaltimes.cn
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