Canada has lodged a complaint with the World Trade Organization regarding the 25 % tariffs the US has imposed. Following Donald Trump’s increase of 10 % to 20 % levies on its goods, China made the decision to approach the global trade platform the day after.
According to AFP, Canada “initiated debate trials yesterday with the US at the WTO regarding the additional tariffs,” a WTO official cited a WTO standard.
After the tariffs went into effect on the region’s goods, Prime Minister Justin Trudeau criticized the “dumb” trade war that had been started to destroy the country’s economy. He retaliated by imposing 25 % tariffs on US imports worth$ 30 billion.
Beijing announced on Tuesday that it had filed a problem with the WTO regarding President Donald Trump’s tax increases on Chinese products.
According to its business government,” the United States ‘ punitive taxes steps severely violate WTO rules and undermine the basis of China-US economic and trade assistance.”
China” will strongly defend its reasonable rights and interests and in accordance with WTO rules,” it continued.
Trump slammed taxes against America’s three largest trading partners on Tuesday, causing immediate retribution from Mexico, Canada, and China. Financial markets were shook by the action, which raised concerns about renewed prices and business confusion. Trump imposed a 25 % tariff on Mexican and Canadian exports shortly after midnight, while a 10 % tax was levied on Canadian power. Additionally, he increased the tariff on Chinese goods last month by 20 %, which he also doubled.
