U.S. Import Duties Ruled Illegal by WTO

The World Trade Organization has ruled that the high tariffs on steel products imported into the U.S. violate global trade rules. The head of the United Steel Workers of America, Leo Gerard, condemned the WTO ruling and reportedly said it would damage the economic security of the United States. European Union, Japan and other steel exporting countries hail the decision, as well as many American manufacturers that consume steel. CITAC members complain that the high Section 201 tariffs have increased steel prices, created shortages and increased lead-times which hinders profitability resulting in more lost American jobs.