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Tariffs 'not the way to go' says Gentiloni

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IANS

Rome, March 10 (IANS/AKI) Italy 's premier Paolo Gentiloni on Friday denounced the new US tariffs on steel and aluminium imports which have drawn international criticism.

"Tariffs are not the way to go," Gentiloni told European Union Commission president Jean-Claude Juncker in a phone conversation, according to sources in the prime minister's office.

"It is important to take forward dialogue with the US," Gentiloni added.

At their next summit, EU heads of state and government will "evaluate a shared position" on the US tariffs, Gentiloni stated.

The import duties - 25 per cent on steel and 10 percent on aluminium - will go into effect in 15 days, although Canada and Mexico will be exempt while negotiations continue over the North America Free Trade Agreement (Nafta).

 

German Chancellor Angela Merkel has called for EU be exempted from the tariffs.

Some countries are likely to take the US to court over the tariffs, arguing that the decision breaks World Trade Organisation rules.

The White House, however, says that the national security rationale for the move is "unassailable" and national security considerations are allowed under WTO rules.

The tariffs follows US president Donald Trump's electoral pledge to rebuild the steel and aluminium industries which he claims are "the bedrock" of the country's "defence-industrial base".

Trump says the US has suffered from "unfair trade" and that the tariffs will boost industry.

--IANS

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mar 10 2018 | 2:34 AM IST

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