EU's definitive safeguard measures on steel imports take effect
by David Fleschen
The European Commission said Friday it is imposing definitive safeguard measures on imports of steel into the EU effective Saturday.
The measures are a direct response to the US government's introduction of import tariffs on grounds of national security under Section 232 of the Trade Expansion Act and replace the existing provisional duties the EC introduced last July.
"The restrictions on the US market caused by the Section 232 tariffs on steel are causing a diversion of trade flows into the EU," the EC said.
The EC notified the WTO before Christmas of the new safeguard plan, which was ratified by EU member states in January.
"These measures are fully in line with the EU's WTO commitments and have been carefully shaped to preserve a continued flow of imports that guarantees effective competition in the European steel market and sufficient choice for the numerous EU users of steel," the EC said.
The measures consist of country-based tariff-rate quotas for the biggest steel supplying countries combined with global quarterly quotas for all other countries for each of 26 products. Hot-rolled coil imports are being treated differently and will receive a quarterly global tariff-rate quota.
Source: S & P Global, photo: fotolia