On Monday, the economy ministry of Mexico said that the country is set to initiate a process for a dispute settlement at the World Trade Organization (WTO) over the tariffs that are being imposed by the United States of America on steel and aluminium. The nation joins the European Union in asking for the involvement of the WTO to counter the new measures.
In the statement that was released on Monday, the economy ministry of Mexico said that it believed that the measures of the United States, which impose tariffs on steel and aluminium amounting to 25 percent and 10 percent respectively, is a violation of the rules of the WTO.
The statement said: “The Mexican government asserts that its actions will continue adhering to the rule of international trade law and will be proportional to the damage that Mexico unfortunately receives.”
Previously, the country said that it would strike back against the tariffs that were imposed by the United States with “equivalent” measures, by targeting the farm and industrial products of the US that are ranging from fruit to pork legs to steel.
The European Union and Canada took some similar actions. Both countries also promised the imposition of new tariffs on a series of products.
Last Friday, the European Union also submitted a request for consultations to be held with the United States regarding the tariffs on steel and aluminium. An official from the WTO said that it was considered as a first step in the dispute settlement process of the agency.
The tariffs are part of the effort of Donald Trump, the President of the United States of America, to safeguard the U.S. industry from what he dubbed as unfair international competition, and have complicated discussions with Canada and Mexico in order to retool the North America Free Trade Agreement.