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Steel and aluminum tariffs are a 'complete violation of WTO rules': Former deputy trade representative

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The potential steel and aluminum tariffs are a "complete violation of WTO rules," said Matt Gold, the former U.S. deputy assistant trade representative for North America under former PresidentBarack Obama.

Thursday, PresidentDonald Trump announced his proposed 25 percent steel and 10 percent aluminum tariffs would go into effect next week. The president has said the move is an effort to improve national security.

While nothing has been signed into law yet, Gold, who is now an adjunct professor of law at Fordham University, said the tariffs — if approved — are complete violations of international trade agreements and would affect the entire global economy. The move might even prompt other countries to take similar actions.

"[The tariffs have] severe implications for undermining the credibility of the entire global trading system," Gold told CNBC on "Closing Bell" on Friday. "It will bring litigation to WTO by our trading partners for violation of those rules."


Source :- cnbc
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