China said that a ruling by the World Trade Organization on Obama-era U.S. tariffs showed that the United States was a "repeat abuser" of trade remedy measures.
The world needs to reinforce an international rules-based order, said Australia's trade minister Steven Ciobo, to avoid a situation where "the big fish eat the little fish."
The international rules-based order allows small and big countries to coexist and have mutually beneficial outcomes, says Steven Ciobo, Australia's minister for trade, tourism and investment.
While Chinese steel exports to the U.S. are already subject to heavy trade restrictions, the European Union has been largely spared by Washington – until now, it seems.
Britain and the European Union would face a combined annual bill of around $80.4 billion if Brexit talks were to collapse without a new trade agreement in place, according to a new study.