China

The U.S. has initiated World Trade Organization dispute settlement proceedings with Canada, Mexico, the European Union, Turkey and China over tariffs the countries have placed on U.S. products in response to steel and aluminum duties imposed by the U.S. earlier this year under Section 232 of the Trade Expansion Act of 1962 and justified via national security, the Office of the U.S. Trade Representative announced on Monday.

In the final day of the World Trade Organization’s biennial review of Chinese trade policies, Beijing fought back on criticism offered by other members in a host of areas, including claims that it unfairly subsidizes state-owned enterprises, contributes significantly to global steel overcapacity and is implementing unfair industrial policies.

Senate Foreign Relations Committee members from both parties used a Thursday hearing on tariffs to blast the Trump administration's trade policies and decry what many called a scattershot and dangerous approach that is offending allies and risking national security.

The Office of the U.S. Trade Representative on Tuesday released a list of $200 billion worth of Chinese goods set to be hit by a 10 percent tariff, laying out a schedule for a public hearing and comments before the tariffs are imposed sometime after Aug. 30.

After the U.S. on Friday imposed tariffs on $34 billion worth of Chinese goods, Beijing responded in kind, retaliating against an equivalent amount of U.S. goods and updating a World Trade Organization challenge to the U.S.’ Section 301 measures.