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EU imposes limits to steel imports after Trump’s tariffs

Posted at February 3, 2019 » By : » Categories : News » Comments Off on EU imposes limits to steel imports after Trump’s tariffs

Measures to limit the imports of steel products into the European Union have come into effect.

They replace the provisional ones from July 2018 in response to the decision by US President Donald Trump to impose tariffs on steel imports, which causes a diversion of trade flows into the EU.

The European Commission’s investigation showed imports of steel products into the EU have been increasingly sharply, “which seriously threatens EU steelmakers”.

The new measures concern 26 steel product categories, with 25% tariffs applied after the quotas per category are filled.

There are also specific limits for major exporting countries based on their own historical imports.

The Commission said: “The definitive safeguard measures published today 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.”

It added the measures should remain in place for up to three years but can be reviewed in case of changed circumstances.

Article source: https://www.energylivenews.com/2019/02/03/eu-imposes-limits-to-steel-imports-after-trumps-tariffs/

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