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WTO chief raises warning on retaliation risks after US tariffs

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WTO chief raises warning on retaliation risks after US tariffs

U.S. President Donald Trump's decision to slap tariffs on imported steel and aluminum could lead to retaliation from other countries and cause unforeseen consequences, Roberto Azevêdo, director general of the World Trade Organization, said March 12, Reuters reported.

"This process of tit-for-tat can induce at times trade wars that are in no one's interests," Azevêdo said. He urged a multilateral approach rather than multiple bilateral actions.

Azevêdo made these comments following a meeting with Brazil President Michel Temer.

Brazil, the second-biggest supplier of steel to the U.S. after Canada, said it would seek exemption from the imposed tariffs, according to the Reuters report.