US Hopes to Solve Tariff Issue With EU, Mexico and Canada

Forex News

The EU, Canada, Mexico, China, Norway, Russia and Turkey had asked the WTO to judge the legality of the US tariffs, despite Washington's claim that they are based on national security.

The United States urged European Union to reflect on whether it was really in their interest for the EU to go ahead with a trade dispute over US metals tariffs. The US also said it was hopeful of settling the issue with Mexico and Canada.

US Ambassador Dennis Shea told the WTO's monthly dispute settlement meeting, that Washington was "deeply disappointed" with the EU's stance. "We would encourage the European countries to consider carefully their broader economic, political, and security interests," Shea said.

Meanwhile, another US trade official later told that the United States had held constructive discussions on the tariffs with Canada and Mexico. "The United States is hopeful these discussions may be concluded satisfactorily," the official said.