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Sunday, October 2, 2022

Norway reports US to the WTO

Norway has joined several other countries in reporting the US Trump Administration to the World Trade Organisation (WTO), for allegedly violating international trade rules by imposing punitive customs duties on steel and aluminum.

“For the Norwegian economy, which is small and open, it’s critical that international regulations for trade are respected,” Foreign Minister Ine Eriksen Søreide stated in a press release Tuesday afternoon. “When someone acts in violation of these regulations, it hits both the individual country and the international economy.”

Trump rolled out his punitive new import fees of 25 percent on steel and 10 percent on aluminum against China, the EU, Canada, Mexico and India, all of which have also reported them to the WTO and asked for a consultation on conflict resolution. That’s the first level for complaints, which can be appealed.

Only 0.2 percent of Norwegian steel and aluminum is exported to the US, and Norway last week secured exemptions from the EU’s own retaliatory fees against the US. Most of Norway’s metals exports go to the EU, however, which stands to be hit hard by Trump’s fees that he claims are aimed at narrowing the US trade deficit.

newsinenglish.no staff

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