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21 AUGUST 2018 AL CIRCLE

Turkey urges for dispute consultation with the US at WTO

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

According to the latest report from a trade group on Monday, August 20, Turkey has urged the World Trade organisation (WTO) for dispute consultations with the United States regarding the doubling of duties on certain imported aluminium and steel products.

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The WTO said, “Turkey claims that the measures are inconsistent with a number of provisions of the WTO’s Agreement on Safeguards and the General Agreement on Tariffs & Trade [Gatt] 1994.”

On August 10, the Trump administration had declared to double the import tariffs from Turkey from 10 per cent to 20 per cent on aluminium products and from 25 per cent to 50 per cent on steel products. On August 13, the duties went into effect.

The WTO also reported if Turkey and the US failed to resolve the dispute in next 60 days from August 20 then the former would be able to request adjudication by a panel.

Members of WTO have also raised concerns over the US decision to higher import tariffs from any origin fearing that the effect of this may touch upon the global economy as a whole.

On August 16, Turkish Trade Minister had declared that Turkey would challenge the Washington’s decision of imposing higher metal tariffs on imports at the World Trade Organisation (WTO).


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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