Juliana Taiwo-Obalonye, Washington DC The International Monetary Fund (IMF) yesterday warned that Nigeria and other debtor nations may run into more troubles with repayment as the global debt levels are becoming unsustainable. This is even as the Fund warned that voters’ disillusionment could raise the threat of political developments that could destabilise a range of…
South Korea has hit back rapidly at U.S. tariffs on washing machines and solar panels, filing challenges and demands for compensation at the World Trade Organisation (WTO).
The WTO published the South Korean complaints on Thursday two days after U.S. President Donald Trump signed the steep tariffs into law.
He billed the move as a way to protect American jobs but the solar industry said it would lead to thousands of layoffs and raise consumer prices.
The 30 per cent tariff on solar panels was among the first unilateral trade restrictions imposed by the Trump administration as part of a broader protectionist agenda aimed at helping U.S. manufacturers, but which has alarmed Asian trading partners that produce lower cost goods.
South Korea challenged the U.S. tariffs under the WTO’s Safeguard Agreement, leaving open the possibility of a full trade dispute later.
The agreement gives the U. S. 30 days to settle the matter, after which South Korea has a 60-day window to impose trade sanctions, if the U.S. measures break WTO rules. It was not clear if the U. S. could challenge that assumption.
Seoul is already seeking WTO trade sanctions to retaliate for Washington’s failure to comply with an earlier WTO ruling.
On Wednesday U.S. Commerce Secretary Wilbur Ross brushed off the threat of South Korea going to the WTO.
“The fact that they may get a favourable decision (at the WTO) doesn’t mean that it’s a correct decision.
”But in any event there’s been no decision yet so it’s a little bit too early to assume that the safeguards will be knocked out.”
No country has ever negotiated a settlement under the WTO safeguard rules, and it was not clear if they could provide a quicker result than a full dispute, which could take three years or more, giving U.S. manufacturers a long period of protection from competition by their South Korean rivals.
Under WTO rules, a country can impose safeguards – temporary emergency tariffs – to shield its domestic industry from an sudden, unforeseen and damaging surge in imports.
Ricardo Meléndez-Ortiz, the Head of the International Centre for Trade and Sustainable Development, said the solar tariffs would fail to boost U.S. solar manufacturing and would destroy U.S. jobs while impeding the fight against climate change.
“These tariffs are insufficient to really generate enough stimulus to create the manufacturing capacity that they are trying to stimulate,” he told Reuters.
“It’s just going to slow down the production of sustainable energy and solar in the U.S., in a big way.”
— 18th April 2018
Job Osazuwa National Leader of the All Progressives Congress (APC), Senator Bola Ahmed Tinubu, has rejected the call for party supremacy by some members of the ruling party and warned that power elongation often leads to dictatorship. He said this, yesterday, at the 35th annual Aminu Kano Memorial Symposium in Kano, with the theme: “Democratic…
— 18th April 2018
• As death toll rises to 78 Nasarawa Governor, Umaru Tanko Al-Makura was, yesterday, stoned in Agwatashi, Obi Local Government Area of the state, by angry Internal Displaced Persons (IDPs), who were recently displaced by herdsmen attacks. The governor was booed by aggrieved IDPs at Agwatashi, while on an on-the-spot assessment visit to some of the…
— 18th April 2018
• You’ve only one vote, APC tells SDP national chairman National Chairman of the Social Democratic Party of Nigeria (SDP), Olu Falae, has called on President Muhammadu Buhari not to seek re-election in 2019. False also slammed the Buhari administration for failing Nigeria in the areas of security and the economy. The former secretary to…
— 18th April 2018
Former First Lady Barbara Bush has died. Aged 92 years, Bush died in Houston. Mrs. Bush served as First Lady of the United States during the tenure of President George H.W. Bush from 1989 to 1993. The office of George H.W. Bush released a statement announcing her death. She has been battling congestive heart disease and chronic obstructive pulmonary disease…
Entertainment— 15th April 2018
Nollywood movie Ojukokoro and three other flicks – Oblivious, The Encounter, and Tell Me Sweet Something – were screened on Saturday night at Metrograph Theatre, New York. Ojukokoro (greed) is the hilarious feature film leading the line-up at the inaugural ‘Nollywood 3.0 Images and Stories From the African Diaspora Film Series’ in New York City….
South-West Report— 12th April 2018
Bamigbola Gbolagunte, Akure The history of Yoruba is certainly not complete without reference to Oranmiyan, a direct descendant of Oduduwa, the progenitor of the race. Oduduwa was believed to have descended from heaven and landed on Ile-Ife, Osun State, and from where he founded other Yoruba towns. Oranmiyan was a warrior who fought many wars…
Abuja Metro— 11th April 2018
Nkechi Onyele & Marcus Nkire A red light area is not only a place where prostitution is carried out or men go to buy sex; it is also a place where generations live and where children are born and raised. Children of women in prostitution who live in red…
Oriental News— 11th April 2018
…Want contractor back on site Okey Sampson, Aba Residents of part of Ogbor Hill, Aba, the commercial capital of Abia State comprising Federal Housing Estate, Pepple, Aguwa, Akpu, Ovom roads and other adjourning areas breathed a sigh of relief when in 2001, the administration of Dr. Orji Uzor Kalu constructed access link from Ogbor Hill…
Features— 17th April 2018
•Decrepit facilities, weeds and reptiles define historic complex Joe Apu Dan Anyiam Sports Complex is a multi-purpose stadium located in Owerri, the capital of Imo State. Named after Daniel Amobi Amadi Anyiam, a former national football team player and coach, it is the home stadium of the Heartland Football Club. It also has facilities for…
Literary Review— 14th April 2018
Henry Akubuiro, Lagos Perhaps more than any other group in the last three decades, the Association of Nigerian Authors (ANA), has contributed to the promotion of reading and discovery of new literary talents in Nigeria. Founded in 1981 by the legendary novelist, Chinua Achebe, the association has through, its routine creative writing workshops, award of…
Lifeline— 17th April 2018
Nigerians express concern over sexual harassment of female varsity students by lecturers Tessy Igomu Guilty or not guilty. That has been the controversy trailing the alleged acts of a lecturer at the Obafemi Awolowo University (OAU), Ile-Ife, Prof. Richard Akindele, and a female student of the institution. Since a telephone conversation between the don and…
Education Review— 17th April 2018
Geoffrey Anyanwu, Awka Former Vice Chancellor of Michael Okpara University of Agriculture, Umudike, Prof. Ikenna Onyido on Monday blamed the drastic drop in the quality in Nigerian universities on lazy Professors, who he described as “internet professors.” Onyido, delivering the keynote lecture of the 55th Meeting of the Committee of Deans of Postgraduate Schools in…
TSWeekend— 13th April 2018
Fatimah Muhammad-Omolaja Fast rising actor, Yomi Fabiyi lost his beloved mother recently. But much as he still feels the pain of her demise, he takes solace in the advice she gave him while alive. In an online chat with the thespian, he talked about how his late mother’s advice has continued to sustain him in…
Opinion— 17th April 2018
Oludayo Tade In the light of many eye-sore and ear-sore episodes which have characterised contemporary every day lived experiences of Nigerians, it is practically impossible to allow our dead leaders-of-thought to rest in peace; I need to invoke the spirit of the unusual being, (Abami Eda), Fela Anikulapo Kuti, for a perspective on Authority Stealing….
By Levi Obijiofor When you ask senior government officials to tell you the exact population of Nigeria, you are more likely to receive a guesstimate of the country’s population. The reason for this is simple. No one knows the current population of Nigeria because the last head count was conducted 12 years ago in 2006….
Last week, on April 14, Nigeria marked the fourth anniversary of the capture and abduction of 276 young girls, all of them students, by Boko Haram from their school in Chibok, Borno State. The government of President Muhammadu Buhari has had 163 of them returned in tranches to Nigeria and their parents. All of them…
Every March 29 his disciples gather for an intellectual banquet. This year’s feast attracted President Muhammadu Buhari, Vice President Yemi Osinbajo and an army of APC faithful. Unlike the other nine years where seminal topics on democracy were discussed, this year’s Ahmed Bola Tinubu Colloquium, held to mark his 66th birthday, was expectedly devoted to…
The mistake we have been making in this country since our democratic evolution is to vote for political parties irrespective of candidatures. This is majorly why we have had issues with most of the characters foisted on us. If it were not so, I do not see how Okezie Ikpeazu of Abia State, Ayo Fayose…
Okigwe South Federal Constituency is fast gaining popularity as the nation prepares for next year’s general elections. This popularity derives from the meddlesomeness of Governor Rochas Okorocha, who, not being satisfied with his vile endorsement of his son in-law as his successor, has traversed the entire landscape of the state, dictating who gets what post…
Last Monday, the All-Progressives Congress likely standard bearer in the 2019 presidential election finally verbalised the message we had long inferred from his body language. The somewhat shock announcement came during his party’s National Executive Committee meeting in Abuja, a day before the president left for London to attend to commonwealth and health matters. It…
As a newspaper publisher, I am quite familiar with the famous journalism dictum: “Comments are free, facts are sacred.” What this means is that everyone has a right to hold and express his opinion without let or hindrance. But while that is true, I haven’t found where it is written or stated that you can…
The Federal Government has been releasing what it calls the looters’ list. The first episode of the soap opera came with its controversies. Before the minister of information, Lai Mohammed, could release the second episode, a number of characters in the cast list had threatened court action. Some have wondered why the list contained mainly…
Often times, I wish I was never on WhatsApp because it can be annoying. My phone beeps endlessly with messages that don’t make sense at all. For me, having to juggle between reading tons of inspirational quotes that have no bearing with my life, to dealing with moral stuffs threatening me to forward to others…
It is another windy and rainy day, everyone has closed and I even had to force Debbie to leave, assuring her that I will lock up properly when I am done. She left reluctantly probably convinced I will not be able to cope without her, I should feel insulted. I was so engrossed in what…