Europe

President Trump has proposed that the G7 countries eliminate all tariffs, non-tariff barriers and subsidies, he said at a leaders' summit in Canada on Saturday.

While World Trade Organization members may not be not following the letter of WTO law in levying duties against the United States for its imposition of tariffs on steel and aluminum, the politics surrounding those tariffs could render any WTO infractions moot, trade analysts tell Inside U.S. Trade.

Along with a notification to GPA members, the UK put forward its first draft market access offer.

The U.S. is “playing a dangerous game” by instituting tariffs on steel and aluminum as well as threatening to slap tariffs on China, EU Trade Commissioner Cecilia Malmström said at a Friday press conference where she announced the EU would bring a World Trade Organization dispute against the U.S. for its imposition of Section 232 tariffs.

PARIS – The U.S. decision to hit close allies with steel and aluminum tariffs roiled trade officials gathered here for the Organization for Economic Cooperation and Development’s annual ministerial, dampening hopes for rapprochement even as the U.S engaged with the European Union and Japan on solutions to combat overcapacity.

The Commerce Department on Thursday announced it would end temporary exemptions from Section 232 tariffs on steel and aluminum granted to Canada, Mexico, and the European Union to expire, subjecting the countries to the duties as of June 1.

The U.S. said it was “ready to discuss with the EU and its member States how we might resolve both sides’ disagreements with respect to existing WTO-inconsistent subsidies and reach an agreement.”

PARIS – Commerce Secretary Wilbur Ross on Wednesday said the European Union can and should continue to negotiate with the U.S. if Section 232 tariffs on steel and aluminum imports are imposed this week – with China an example of how such talks could play out.