The World Trade Organization (WTO) has ruled that retaliatory tariffs imposed by China over U.S. steel and aluminum tariffs have violated international trade rules.
In response to U.S. steel and aluminum tariffs, China in 2018 imposed additional import duties targeting 128 U.S. items worth $3 billion, including farm products.
In its ruling Wednesday on the long-standing trade dispute between the two major economic powers, a World Trade Organization dispute panel said the measure is inconsistent with various articles of the General Agreement on Tariffs and Trade (GATT).
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.