This morning in metals news, Japan is considering retaliation over the U.S.’s Section 232 metals tariffs, copper gains slowed in the face of a strengthening U.S. dollar, and South Korea initiated a complaint at the World Trade Organization (WTO) over the U.S. duties on solar cells and washing machines.
Section 232 Retaliation
Several U.S. trading partners have negotiated long-term exemptions from its Section 232 tariffs. A notable name not on that list yet? Japan.
As such, the Wall Street Journal reported that Japan is considering retaliatory measures.
Copper Rise Slows
LME copper’s rise slowed Thursday as the U.S. dollar rose to a five-month high against the euro, Reuters reported.
South Korea Goes to WTO Over U.S. Duties on Washing Machines, Solar Cells
South Korea has initiated a WTO complaint against the U.S. with respect to the latter’s duties on South Korean washing machines and solar cells.
“Korea has requested WTO dispute consultations with the United States regarding US safeguard duties imposed on imports of large residential washers and crystalline silicon photovoltaic products,” a notice on the WTO website states. “The requests were circulated to WTO members on 16 May.”