Canada, the EU and Brazil have all said they would refer the U.S. tariffs to the WTO

  • outdoorsmuscl...

    Posts: 2722

    Mar 09, 2018 3:30 AM GMT
    Canada, the EU and Brazil have all said they would refer the U.S. tariffs to the WTO. The organization, whose mandate includes adjudicating international trade disputes, would appoint a panel of countries not directly affected by the tariffs to hear the case.

    Retaliation from U.S. trading partners
    If the WTO finds that Mr. Trump's tariffs are illegal, trading partners could retaliate under WTO authorization for more than $14 billion, according to a Peterson Institute estimate cited by Capital Economics.

    Under U.S. trade law, which is written to be consonant with our international agreements, the president can impose tariffs under certain narrowly defined conditions. But the steel and aluminum tariffs, justified with an obviously bogus appeal to national security, clearly don’t pass the test.

    So Trump is in effect both violating U.S. law and throwing the world trading system under the bus. And if this escalates into a full-scale trade war, we’ll be back to the bad old days. Tariff policy will once again be driven by influence-peddling and bribery, never mind the national interest.

    But that won’t bother Trump. After all, we now basically have an Environmental Protection Agency run on behalf of polluters, an Interior Department run by people who want to loot federal land, an Education Department run by the for-profit schools industry, and so on. Why should trade policy be different?
    https://www.cbsnews.com/news/4-things-to-watch-for-in-trumps-steel-and-aluminum-tariffs/
    https://www.nytimes.com/2018/03/08/opinion/trump-trade-tariffs-steel.html?ribbon-ad-idx=4&rref=opinion&module=Ribbon&version=context&region=Header&action=click&contentCollection=Opinion&pgtype=article
  • roadbikeRob

    Posts: 18433

    Mar 09, 2018 3:03 PM GMT
    Now that the shoe is on the other foot and the USA is no longer a doormat, most of our so called allies: Canada, Europe, and Brazil are all bent out of shape and are now threatening the US with international legal action. All I have to say to Canada, Brazil, and Europe is TOUGH SHIT!
  • CuriousJockAZ

    Posts: 21028

    Mar 09, 2018 3:19 PM GMT
    roadbikeRob saidNow that the shoe is on the other foot and the USA is no longer a doormat, most of our so called allies: Canada, Europe, and Brazil are all bent out of shape and are now threatening the US with international legal action. All I have to say to Canada, Brazil, and Europe is TOUGH SHIT!



    How DARE the USA demand "Fair Trade" after all of these years of being a doormat
  • outdoorsmuscl...

    Posts: 2722

    Mar 09, 2018 3:55 PM GMT
    Trump's tarriffs may be a way for the illegitmatepotus, ignorant piece of shit to antagonize the WTO and leave the World Trade Organization.

    The WTO is run by its member governments. All major decisions are made by the membership as a whole, either by ministers (who meet at least once every two years) or by their ambassadors or delegates (who meet regularly in Geneva). Decisions are normally taken by consensus.

    In this respect, the WTO is different from some other international organizations such as the World Bank and International Monetary Fund. In the WTO, power is not delegated to a board of directors or the organization’s head.

    When WTO rules impose disciplines on countries’ policies, that is the outcome of negotiations among WTO members. The rules are enforced by the members themselves under agreed procedures that they negotiated, including the possibility of trade sanctions. But those sanctions are imposed by member countries, and authorized by the membership as a whole. This is quite different from other agencies whose bureaucracies can, for example, influence a country’s policy by threatening to withhold credit.

    This suggests to some that the whole reason to go down the national security route is really to create a crisis so the U.S. can withdraw from the WTO, Hillman said.

    Grant Aldonas, who served as undersecretary for international trade in the Commerce Department during the Bush administration from 2001 to 2005, said he was worried that the Trump White House argument would just open the door for China and other countries to justify trade protections on national security grounds.

    Aldonas said the Bush White House explored using national security grounds to justify steel tariffs in 2001 but “we concluded there was absolutely no evidence imports of steel are threatening national security.”
    https://www.marketwatch.com/story/trump-tariffs-may-really-be-a-backdoor-way-to-get-out-of-the-wto-2018-03-06#false

    roadbikeRob saidNow that the shoe is on the other foot and the USA is no longer a doormat, most of our so called allies: Canada, Europe, and Brazil are all bent out of shape and are now threatening the US with international legal action. All I have to say to Canada, Brazil, and Europe is TOUGH SHIT!