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The Real Danger of Trump’s Steel and Aluminum Tariffs
09/03/2018
Economic historians generally agree that the infamous Smoot-Hawley Act of 1930, which sharply raised tariffs on more than twenty thousand goods produced overseas and exported to the United States, didn’t cause the Great Depression, but it did accentuate it. As other countries retaliated with import duties of their own, the volume of world trade spiralled down. At the start of 1930, world trade had been about $2.7 billion. By the beginning of 1932, it was less than $1.3 billion. Among the countries that imposed new duties on American exports were Australia, Canada, Cuba, France, Mexico, Spain, and New Zealand.
WTO asks US not to impose hefty tariffs
07/03/2018
EU and Russia to Cooperate with S. Korea in Handling U.S. Import Tariffs
07/03/2018
According to the WTO on March 6, the EU notified the South Korean and U.S. governments of its intention to participate in their bilateral negotiations the South Korean government requested with regard to the Adverse Facts Available (AFA) provision. The EU claimed that it is an interested party in the negotiations because the provision called into question by the South Korean government is currently applied also to steel products exported to the U.S. from Italy, the Netherlands, Britain, etc.
