Geneva, Nov 24: The World Trade Organization is set to adopt a report next week that declares us steel tariffs illegal, opening the way to rapid retaliation from some of its biggest trading partners. WTO officials confirmed that the report is on the agenda for the December 01 meeting of the organization`s dispute settlement body following a request from the European Union. Adoption is a formality and cannot be blocked by the United States.
The 15-nation EU has threatened tariffs on USD 2.2 billion worth of US imports, pricing many of those goods - from orange juice to pajamas - out of the European market, unless the administration of President George W Bush removes the steel duties immediately.
The Norwegian government on Friday said it would begin imposing a 30 percent duty on roughly USD 12 million worth of American imports beginning December 06. Its list includes steel products, apples, gas stoves and hunting weapons.
In Tokyo, Kyodo News reported Saturday that Japan also will slap a 30 percent tariff on USD 98 million in US steel products if Washington does not act by November 30.
Bureau Report