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More Than 40 WTO Members Protested Against the Proposed Increase of Automobile Tariffs

Source:Iris Liang Time:2018-7-6 9:28:25

More than 40 WTO members, including Japan and China, expressed concern that “the United States may impose tariffs on imported cars and spare parts” and warned that given the importance of cars in global trade, The actions of the United States may seriously damage the global market and threaten the entire WTO system. Seko Machinery's industrial tube mill series could meet various demands of automotive industry tubes.
Japan: Such initiatives in the United States may trigger a series of counter-measures that create a high level of tension and lead to the collapse of a global multilateral system based on WTO rules.

EU: Tariffs on imported cars and spare parts will damage the US auto industry and may incur retaliatory measures against trading partners for US$294 billion in US exports.

In addition to levying tariffs on steel and aluminum for trading partners such as the European Union, the US Department of Commerce also launched a so-called “232 investigation” on imported cars and spare parts at the end of May, claiming that overseas imports “weakened” the US domestic auto industry and harmed the United States. National Security. According to US President Trump on June 29, the investigation will be completed in late July or early August, and the US Department of Commerce will submit policy recommendations to Trump.

Germany: May Europe and the United States dispute not change trade wars

German Chancellor Angela Merkel said on the 4th that after the United States imposed a tariff on steel and aluminum on the EU, the Trump administration threatened to impose high tariffs on cars exported from the EU to the United States, and the harm caused by automobile tariffs may be higher than Steel and aluminum tariffs are much larger. She hopes that the trade dispute between the EU and the United States will not further evolve into a trade war, and this requires the efforts of the United States.

Merkel also said that if it is not just statistical goods trade, but a detailed statistics of trade in services, especially digital services trade based on Internet technology, then the overall trade of the United States to the EU will not be a deficit, but a surplus.
WTO says economic and trade frictions begin to affect the global economy

The World Trade Organization (WTO) released a report on the 4th that the economic and trade frictions between the world's major economies have begun to affect the further growth of the global economy.

According to the WTO report, from October last year to May this year, the G20 members introduced a total of 39 new trade restriction policies during this period, including increasing import tariffs, etc. - this figure is better than previous reports. Doubled.

The report pointed out that the global economy has finally begun to show sustained growth momentum after the financial crisis, but the uncertainty brought about by trade restrictions may hinder the recovery of the global economy. At present, some forward-looking economic indicators have already had this trend. Reacted.

The report calls on this to say that members of the G20 must do everything they can to prevent the situation from deteriorating and take measures to promote trade recovery.


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