Report from Zhejiang New Aluminum Technology Co ltd
Geneva On December 9, local time, the World Trade Organization (WTO) panel issued a report on the WTO Dispute Case DS544 against the US steel and aluminum Tariff measures 232 (DS544), ruling that the relevant measures of the US violate WTO rules and rejecting the US defense by invoking the WTO security exception clause. The China Iron and Steel Association and the China Non-Ferrous Metal Industry Association highly appreciated and firmly supported the objective and fair verdict made by the expert group.
China’s steel and aluminum industries have always taken meeting domestic demand and achieving high-quality development as their core objectives. China’s exports of steel and aluminum products to the United States do not account for a large proportion and in a small quantity. The trade and cooperation between the two industries are based on the strong complementarity of the steel and aluminum industries between China and the United States and are fully based on the fair market principle. The trade has not harmed the United States, but has benefited downstream customers and promoted the development of relevant sectors in the United States. China’s steel and aluminum industries began to eliminate outdated production capacity in 2010, and implemented supply-side structural reform since 2016, significantly reducing steel and electrolytic aluminum production capacity. Up to now, China’s steel and aluminum industry has not only no backward production capacity, but also set a production capacity ceiling. The reform has achieved remarkable results, vigorously promoting the healthy and sustainable development of the world steel and aluminum industry.
Since March 23, 2018, the US has imposed additional tariffs of 25 percent on steel and 10 percent on aluminum imports on the grounds of national security. As it violates WTO rules, the measure is not only opposed by many WTO members, but also widely criticized in the US.
The WTO panel’s ruling testifies to the fact that the United States has severely undermined the rules-based multilateral trading system by resorting to unilateralism and protectionism in the name of national security. The Chinese steel and aluminum industries hope that the US side will respect the ruling of the panel of experts and WTO rules, correct the illegal measures as soon as possible, cancel the 232 tariff, and work with China to create a sound international steel and aluminum trade environment and order and safeguard the multilateral trading system.
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The Export Manager
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Zhejiang New Aluminium Technology Co.,Ltd
Post time: Dec-14-2022