US steel tariffs draw criticism from WTO participants

Participants at a World Trade Organization (WTO) meeting have expressed their criticism of US President Donald Trump's decision to impose tariffs on steel and aluminum imports.

During their meeting in Geneva on Friday, the European Union, Brazil, Japan, Australia and others joined a debate started by China and Russia about Trump's plan.

Addressing the meeting, the EU representative said the tariffs could not be justified by a claim to preserve national security, adding the United States seeks to keep its industry alive and prosperous, a Geneva trade official said.

President Trump fueled concerns of a potential trade war on March 8 when he officially announced steep tariffs on imported steel and aluminum, but exempted Canada and Mexico.

PressTV-Trump orders steel and aluminum tariffs

US President Donald Trump has officially announced steep tariffs on imported steel and aluminum, but exempted Canada and Mexico.

Defying his own party and delivering on a campaign promise to fight unfair practices by America’s trading partners, Trump signed paperwork enacting tariffs of 25 percent on steel and 10 percent on aluminum during a ceremony at the White House.

However, the US president late Thursday night temporarily excluded the European Union states and six other countries, including Canada and Mexico, from higher US import duties on steel and aluminum.

PressTV-Trump temporarily excludes EU from steel tariffs

US President Donald Trump has granted the EU and six countries a temporary exemption from aluminum and steel tariffs.

In a presidential proclamation, Trump said he would suspend tariffs for Canada, Mexico, Australia, Brazil, Argentina, South Korea and the European Union, America’s largest trading partner, until May as negotiations continue.

A senior EU official has said the European Union is prepared to retaliate against the US president's steel and aluminum tariffs but still seeks talks with the United States over the decision to settle the dispute.

PressTV-EU warns of retaliation against Trump's tariffs

The European Union says it is prepared to retaliate against the US president's steel and aluminum tariffs.

"We are prepared and will be prepared if need be to use rebalancing measures," European Commission Vice President Jyrki Katainen told a press conference in Brussels.

Read more:

• Trump negotiating with several countries over tariffs: White House
• Trump vows to levy more taxes on Europe if they retaliate metal tariffs
• Trump issues new trade threat to EU in tit-for-tat

Russia seeks restrictions on US imports in response to tariffs

Russia's Trade Ministry also warned on Friday that Moscow plans to prepare a list of restrictions on imported products from the United States in response to Washington's tariffs on steel and aluminum, Interfax news agency reported.

"We will prepare our position, submit it to the Economy Ministry and apply to the WTO," Russia's Deputy Trade Minister, Viktor Yevtukhov, said.

"We will probably prepare proposals on the response measures. Restrictions against the American goods. I think that all countries will follow this path," he added.

Russian steel and aluminum producers have been playing down the potential impact of the US tariffs; however, Russia's Trade Ministry said there would be an impact.

Yevtukhov cited preliminary estimates for the Trade Ministry as saying that Russia's steel and aluminum producers may lose $2 billion and $1 billion, respectively, from the US tariffs introduction. It was not clear whether he was referring to annual losses.

The announcement came after China vowed to retaliate against Trump's measures, stoking fears of a looming global trade war.

China's Commerce Ministry said the country was planning measures against up to $3 billion of US imports to balance the steel and aluminum tariffs, with a list of 128 US products that could be targeted.

Trump was reportedly seeking to impose tariffs on up to $60 billion of imports from China and will chiefly target the technology and telecommunications sectors.

PressTV-Trump to impose tariffs on up to $60 billion Chinese goods

US President Donald Trump is considering fresh tariffs on billions of dollars in Chinese imports, particularly for the tech and telecommunications sector.

While the tariffs would be mainly targeted at information technology, consumer electronics and telecoms, they could be much broader and the list could eventually run to 100 products, several people who had discussed the issue with the Trump administration said on March 13.

Read more:

• China says proposed US tariffs on metals groundless, vows to retaliate
• China ‘to retaliate any harm from Trump's tariff plan’
• Trump’s proposed tariffs will lead to deep global recession: WTO

The United States claims that Trump’s proposed tariffs are needed to protect its national security and therefore do not need to be cleared by the WTO. But, many trade experts said they fall under the jurisdiction of the Geneva-based global trade body.

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