Norway will challenge the US tariffs on steel and aluminium as it believes that these tariffs are violating the World Trade Organization (WTO) rules. The US established a 25% tax on steel and 10% tax on aluminium from the EU, Mexico and Canada, from June 1.
Namely, Norway filed a challenge to the WTO on Tuesday, June 12, regarding the US tariffs on steel and aluminum.
As Minister of Foreign Affairs Ine Eriksen Soereide was cited as saying by Reuters, Norway believes that the US tariffs are violating the WTO rules. For this reason, the Scandinavian country requested dispute settlement consultations with the US in the WTO.
After US imposed the tariffs, the EU, Mexico and Canada retaliated.
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Namely, the EU has submitted eight pages at the World Trade Organization (WTO), setting out 25% tariff increases for the US regarding steel and aluminum.
Mexico will impose 15% to 25% tariffs on US steel and some agricultural goods. The tariffs also include a 20% tariff on US pork imports, apples and potatoes and 20 to 25% rates on types of cheeses and bourbon.
Canada will impose retaliatory tariffs on £9.6 billion worth of US exports and challenge US steel and aluminium tariffs under the North American Free Trade Agreement and the World Trade Organization. The Canadian tariffs will enter into force from July 1 and will last until the US lifts its own measures.
Canada also released two lists of US products, imposing a 25% tariff on the first list and 10% on the second. The tariffs are now subject to a consultation period, when Canadians will give their consults.
Following these developments, European shipowners, represented by the ECSA, expressed their concerns about the effects they will have on global trade relations. The concerns are raised after the US implemented tariffs on EU, Mexico and Canada, while the result of the G7 meeting last weekend did not offer a solution.
