WTO | 2026 News items - WTO members review temporary US import surcharges home wto news 2026 news news item balance of payments WTO members review temporary US import surcharges The Committee on Balance of Payments Restrictions (BOP) held c
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WTO members review temporary US import surcharges
The Committee on Balance of Payments Restrictions (BOP) held consultations on 22 June 2026 to discuss a 10% import surcharge adopted by the United States to address its BOP deficit. WTO members heard a statement from the United States. They also considered a statement of the International Monetary Fund (IMF) on the US BOP situation and a background note prepared by the WTO Secretariat. The United States responded to members' questions and indicated that the temporary measure is expected to expire on 24 July 2026.
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Balance of payments
United States of America
Committee on Balance-of-Payments Restrictions
Note
This note has been prepared by the WTO Secretariat to assist public understanding about the work of the WTO's councils, committees and other bodies. It is not intended as a complete account of all issues raised at the meeting. These can be found in the formal meeting minutes.
Ambassador R.G.S.P.K. Wijesekara of Sri Lanka, the Chair of the Committee, facilitated the consultations.
The Chair noted that the United States had
notified
the WTO of a temporary 10% import surcharge under Article XII of the General Agreement on Tariffs and Trade (GATT). The measure took effect on 24 February 2026 and will expire on 24 July 2026, unless extended by an act of Congress. He said that the objective of the meeting was to enable a full exchange of views to better understand the challenges facing the United States and to explore possible avenues for further progress in the dialogue between the United States and members.
In line with WTO rules, the IMF was invited to present its perspective on the US balance-of-payments situation, based on the IMF Executive Board's assessment at the conclusion of the 2026 Article IV Consultation with the United States. The WTO Secretariat also provided a
background document
on the matter.
The United States made a comprehensive statement on the measures put in place. Members thanked the United States for its transparency and the detailed information shared to facilitate the consultation. Some members raised questions regarding the severity of the country's balance-of-payments situation, the relationship between the methodology used for the assessment and the scope of Article XII, the necessity of imposing the temporary surcharge, and the exemptions granted to certain countries and products. Several members also urged the United States to assess the impact of such measures on global trade and to consider their removal. Taking the floor once more, the United States responded to the questions raised, including those received in advance of the meeting.
The Chair thanked the United States and members for the engaging discussion and noted that more time is needed to assess whether further consultations are required. He added that the Committee will report
