Japan and EU prepare countermeasures against Trump’s metal toll

aluminumA worker checks on rolls of aluminum at a factory in Zouping county in east China's Shandong province. Small businesses are threatened by higher costs from U.S. steel and aluminum tariffs and by a broader trade fight with China, as steel costs are already higher since the Trump administration announced a 25 percent tariff on the metal in March. (Chinatopix via AP, File)

Japan and the EU have notified the World Trade Organization (WTO) that they are preparing countermeasures in response to the United States’ duty on steel and aluminium. Thus, the trade war is ever closer.

 

Japan has told the WTO that they believe they have the right to impose tolls on US goods to a total of 50 billion yen, equivalent to about 3.6 billion Norwegian kroner. This is in response to the customs imposed on the Japanese metal industry in the United States.

The Japanese government has, however, not said anything about exactly when the toll on American products will be imposed.

“We will make a decision after considering how this affects Japanese companies and what measures the US is putting into effect,” he said in a statement on Friday.

At the same time, the EU also informed WTO that the Union is ready to implement a series of countermeasures against the new US tariffs on steel and aluminium. The countermeasures include higher tariffs on motorcycles and bourbon whiskeys.

 

© NTB scanpix / #Norway Today

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