World Trade Organization (WTO) headquarters in Geneva. REUTERS
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Japan, Russia and Turkey have warned the United States about potential retaliation for its tariffs on steel and aluminium, the World Trade Organization said Tuesday, bringing the total U.S. tariff bill to around $3.5 billion annually.Each showed how much the disputed U.S. tariffs would add to the cost of steel and aluminium exports to the United States, based on 2017 trade.China, the 28-nation EU and India have put their claims at $612 million, $1.6 billion and $165 million respectively.They all reject the U.S. view that the import tariffs -- 25 percent on steel and 10 percent on aluminium -- are justified by U.S. national security concerns and are therefore exempt from the WTO rules.
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