Japan said today it has taken retaliatory action against US tariffs on steel imports to mark the first time Tokyo has taken such steps in a trade dispute.
"Today, we officially informed the World Trade Organisation (WTO) of our planned countermeasures against the US tariffs," said a government trade official.
Under the measures, Japan will impose 100 per cent tariffs worth $4.88 million a year on certain US steel products from June 18th.
If the US tariffs are judged to be against WTO rules, the penalties would expand to $123.43 million. The action will be averted if the two nations can settle the matter by then, officials said.
US President Mr George W. Bush announced in March he was applying tariffs of up to 30 per cent on most steel imports to protect the ailing US steel industry. The move has also triggered protests from the European Union, South Korea and other nations.
The European Commission said on Tuesday that it had lodged with the WTO two lists of US products it plans to hit with retaliatory tariffs.
AFP