Stocks Slide After US Launches WTO Challenge Against 5 Nations
by Tyler Durden
ZeroHedge.com
Mon, 07/16/2018
The United States has launched five separate complaints at the World Trade Organization against Canada, China, the European Union, Mexico and Turkey, in response to retaliatory tariffs those countries and groups have launched against American products.
The potential escalation of tensions appears to be weighing on stocks…
As CBC reports, the United States Trade Representative Robert Lighthizer said in a statement Monday that recent tariffs implemented by the U.S. on foreign steel and aluminum are “justified under international agreements,” but retaliatory measures from other countries in response are not.
“Instead of working with us to address a common problem, some of our trading partners have elected to respond with retaliatory tariffs designed to punish American workers, farmers and companies,” Lighthizer said.
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