Japan, EU Say Section 232 Tariffs on Cars Would Harm 'Multilateral Trading System'
Japanese and EU trade leaders noted their concerns with potential new U.S. tariffs on cars and car parts under a Section 232 investigation (see 1805240002) in a joint statement from Paris on May 31. "The measures under consideration in the…
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investigation on autos and auto parts, if imposed, would have a major restrictive impact affecting a very substantial part of global trade," said European Union Commissioner for Trade Cecilia Malmstrom and Japanese Minister for Economy, Trade and Industry Hiroshige Seko. "This would cause serious turmoil in the global market and could lead to the demise of the multilateral trading system based on [World Trade Organization] rules. Both ministers also confirmed their intention to cooperate closely in discussing these concerns with the United States and call on other like-minded countries to join their efforts," the statement said. Those leaders also met with U.S. Trade Representative Robert Lighthizer that day and issued a separate joint statement (see 1805310020).