World Trade Organization warns that Trump risks trade war
GENEVA — The World Trade Organization warned Friday that U.S. President Donald Trump is risking an economically damaging trade war if he goes ahead with plans to impose steep tariffs on steel and aluminum imports.
Trump, who has long railed against what he deems unfair trade practices by China and others, said Thursday he planned to levy penalties of 25 per cent on imported steel and 10 per cent on aluminum imports from next week.
Roberto Azevedo, the director-general of the Geneva-based WTO, said the agency was “clearly concerned” at the U.S. plans and warned that “a trade war is in no one’s interests.”
“The potential for escalation is real as we have seen from the initial responses,” he said in comments emailed to The Associated Press by a WTO spokesman.