NEWS

AmCham Statement on US Steel and Aluminum Tariffs

May 2018

The American Chamber of Commerce of Norway regrets the decision of the US authorities to not temporarily exempt Norway from tariffs and limits on imports of steel and aluminum.

It is a destabilizing move, which is creating uncertainty for companies operating globally and could have ramifications for transatlantic relations as well as for jobs, growth and security on both sides of the Atlantic.

Norway, along with other close partners of United States, including Switzerland and Japan, were not temporarily exempted from the steel and aluminum tariffs imposed on March 23, 2018.

AmCham Norway is of the opinion that imposing such unilateral tariffs is the incorrect solution for this significant and urgent issue. We hope and expect that this situation will be remedied shortly, and we will continue to monitor the developments closely.

It is our belief that the exemption should include Norway, as it meets the criteria set forth by the US Department of Commerce. We anticipate that Norway is treated equally and fairly compared to other WTO members and in accordance to the multilateral rules-based system of international trade.

AmCham Norway further regrets the decision of the US not to permanently exempt the EU from tariffs and limits on imports of steel and aluminum. The new June 1 deadline should be seen as an opportunity for the EU and the US to address some of the legitimate concerns raised, such as global overcapacity and unfair trading practices.

Representing companies operating across the world that are dependent upon global supply chains, AmCham Norway remains concerned about the negative impact that any new trade barriers – and potential countering measures – could have on their operations, the global economy and security, which has served us all well for decades.

We strongly encourage both sides to seek a resolution to this issue that does not result in more barriers to trade and investment.