Japan releases annual report following WTO decision

Japan releases annual report following WTO decision

Following the WTO's last week's preliminary findings that the US safeguard measures are violating international trading rules, annual report of the Japanese Trade Ministry came in with complaints in respect of all protectionist tariffs erected by countries to safeguard their own domestic industries. According to Japanese authorities, all these retaliations are triggered by the US protectionist measures implemented in March last year. Developing countries like China, India, Indonesia and Thailand are suffering the misuse of anti-dumping measures by the US; however China, in the process of WTO accession and that has implemented retaliatory tariffs on steel imports, is the second biggest export market for Japan, after the US. Similarly, China is also the biggest exporter of goods into Japan.