US had 253 trade disputes with WTO members in 2018
File photo Photograph: (Zee News Network)
The US Chamber of Commerce on Monday denounced President Donald Trump’s handling of global trade disputes, issuing a report that argued tariffs imposed by Washington and retaliation by its partners would boomerang badly on the American economy.
Trump has slapped tariffs on billions of dollars worth of steel and aluminum imports from China, the European Union, Canada and others, prompting retaliation against US products. He is considering extending the levies to the auto sector.
According to a World Trade Organisation report, the United States was involved in 52 trade disputes with the European Union - it brought 33 of those while 19 were brought against it.
There were 32 disputes in total involving trade with China while with Canada, there were 26, most of which were brought by the US.
The latest United States and China trade dispute has worried investors and affected stock prices and the indexes that measure them.
International trade dispute is a situation when one country believes that another country is violating an agreement it has made in the World Trade Organisation (WTO).
Here is a recent analysis from reporters and economists about the trade disputes the United States of America has with other countries.
1: Including India, US has trade disputes with 10 major countries.
2: Total number of case and as complainant and respondents are 253.
3: 74 cases are against the US and rest were brought by the US govt.
However, some business experts say the US could gain from the dispute, especially with China. But Historically, trade wars have come at a great economic cost.