The EC introduces temporary responsive measures on imports of steel products

July 20, 2018 11:44 amComments Off on The EC introduces temporary responsive measures on imports of steel productsViews: 39

steel productsThe European Commission is introducing temporary responsive measures in the form of higher duties on imports of a number of steel products from third countries in an attempt to counter the consequences of Washington’s tariffs.

The new measures came into force on Thursday (July 19) and does not include traditional imports of steel products.They will affect 23 product categories and will take the form of a tariff quota, with 25% duty only to enter into force once imports have exceeded the average for the past three years. The quota will be on a straightforward basis and will not affect a particular country of export.

The EU restrictions will apply to all third countries, with the exception of some developing countries with limited exports to the EU. An exception will also be made for the countries of the European Economic Community – Norway, Iceland and Liechtenstein.

The measures may remain in force for up to 200 days.

“American duties on steel production are causing trade distortion, which can cause serious damage to European steelmakers and workers in the industry. We have no choice but to introduce temporary safeguards to protect our local industry against the growth of imports”, said European Trade Commissioner Cecilia Malstrom.

In her words, however, it is guaranteed that EC markets remain open and traditional trade flows will remain intact.

The new higher tariffs are part of the European Commission’s response to the US import charges imposed on steel and aluminum in March. The EC points out that there is already a shift in exports from some US steelmakers to the EU. In order to avoid a sudden increase in imports that would cause additional economic difficulties for European producers – already suffering from overcapacity on world markets, the Commission considers temporary safeguards to be “necessary and justified”.

In addition to the restrictions currently in force, the European response to US steel and aluminum tariffs also includes trade rebalancing measures with the United States, which came into force on 20 June, as well as legal action before the World Trade Organization, launched on June 1st.

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