Switzerland launches complaint at WTO in response to US aluminium
As declared on July 10, 2018, Switzerland has launched a complaint at the World Trade Organisation against the US tariffs on imported ccan stock price and steel, claiming that this tariff is wrongly imposed on them. Hence, it is now the eighth WTO member to start such a challenge.
The Swiss economy ministry said in a statement, "From Switzerland's point of view, the additional duties, which according to the U.S. have been introduced to protect national security, are unjustified."
Under WTO rules, if the US is unable to settle the issue in next 60 days, Switzerland can escalate the dispute by asking the WTO to set up a panel of judges to adjudicate.
In April 2018, Switzerlandexported 310 tonnes of aluminium plates, sheets, and bars to the US, and from January to April 2018, the country recorded the total exports of 1190 tonnes of aluminium. Although the export amount stood minor yet the revenue remained significant to the government. The Swiss government, therefore, fears that the US tariffs on imported aluminium and steel may take a toll on country's GDP as it is largely dependent on exports.
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