Japan Reiterates Retaliation Against U.S. Over Steel Tariffs

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Last updated at: (Beijing Time) Tuesday, May 07, 2002

Japan Reiterates Retaliation Against U.S. Over Steel Tariffs

Japan will slap retaliatory tariffs oncertain U.S. imports if Washington fails to compensate Japan over the hefty U.S. steel tariffs, Japanese trade minister Takeo Hiranuma reiterated May 7 in Tokyo.

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Japan will slap retaliatory tariffs oncertain U.S. imports if Washington fails to compensate Japan over the hefty U.S. steel tariffs, Japanese trade minister Takeo Hiranuma reiterated May 7 in Tokyo.

"We have no choice but to proceed in accordance with World Trade Organization (WTO) rules," Hiranuma said at a press conference.

Hirauma made the remarks after Japan and the United States failed to bridge the gap over the issue of U.S. "safeguard" tariffs on steel imports in Washington last week.

During the talks in Washington, the two sides were unable to narrow differences over Tokyo's demand that Washington compensate it by lowering tariffs on other Japanese exports, according to Japan's Kyodo News.

Hiranuma plans to meet U.S. Trade Representative Robert Zoellick in Paris on the sidelines of a two-day ministerial meeting of the Organization for Economic Cooperation and Development, which is scheduled from May 15 to 16.

The meeting is viewed as a final recourse for the two countriesto resolve the steel issue without plunging into a tit-for-tat trade war.

In accordance with WTO rules, Japan must notify the WTO by May 17 if it decides to take retaliatory action over the U.S. move to impose three-year tariffs of up to 30 percent on an array of steelimports.

The hefty U.S. tariffs, which went into effect March 20, have prompted Japan, the European Union and other steel-exporting countries to file complaints with the WTO.

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