EU adopts rebalancing measures in reaction to US steel and aluminium tariffs

Cecilia Malmstrom Trump Trade war 2018

Visit by Cecilia Malmström, Member of the EC in charge of Trade, to New Zealand. © European Union , 2018 / Source: EC – Audiovisual Service .

This article is brought to you in association with the European Commission.

The European Commission adopted today the regulation putting in place the EU’s rebalancing measures in response to the US tariffs on steel and aluminium. The measures will immediately target a list of products worth €2.8 billion and will come into effect on Friday 22 June.

The list of US imports that will now face an extra duty at the EU border includes steel and aluminium products, agricultural goods and a combination of various other products. By putting these duties in place the EU is exercising its rights under the World Trade Organisation (WTO) rules.

Commissioner for Trade Cecilia Malmström said: “We did not want to be in this position. However, the unilateral and unjustified decision of the US to impose steel and aluminium tariffs on the EU means that we are left with no other choice. The rules of international trade, which we have developed over the years hand in hand with our American partners, cannot be violated without a reaction from our side. Our response is measured, proportionate and fully in line with WTO rules. Needless to say, if the US removes its tariffs, our measures will also be removed.”

Today’s announcement follows the notification of the full list to the WTO and its endorsement by the College of Commissioners on 6 June, following the US application of the full tariffs on EU steel and aluminium products. EU Member States have expressed their unanimous support for this approach.

The EU will rebalance bilateral trade with the US taking as a basis the value of its steel and aluminium exports affected by the US measures. Those are worth €6.4 billion. Of this amount, the EU will rebalance on €2.8 billion worth of exports immediately. The remaining rebalancing on trade valued at €3.6 billion will take place at a later stage – in three years’ time or after a positive finding in WTO dispute settlement if that should come sooner.

The EU rebalancing measures will be effective for as long as the US measures are in place, in line with the WTO Safeguards Agreement and EU legislation.

The Implementing Regulation, to be published tomorrow and entering into force on Friday, sets out the products and level of duties to be applied, both now and in the future, if necessary.

The list of products is the same as in the previous Implementing Regulation of 16 May and as notified to the WTO on 18 May.

Background

Today’s decision is part of the three-pronged response outlined by the European Commission earlier this year. This also includes the launch on 1 June of legal proceedings against the US in the WTO and safeguard action to protect the European market from disruptions caused by the diversion of steel from the US market. A safeguards investigation was launched on 26 March. The Commission has nine months to decide whether safeguard measures would be necessary. If the investigation confirms the necessity for swift action, such a decision could be taken by summer. As regards aluminium, the Commission has put in place a surveillance system for imports of aluminium to be prepared in case action is required in that sector.

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

the European Sting Milestones

Featured Stings

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

Light at the end of the Eurozone tunnel

How and why Mercedes fakes the EU fuel consumption tests

Challenges remain in DPRK despite ‘slight’ improvements in health, wellbeing: UNICEF

Economic recovery won’t tackle youth unemployment problem

The role of public affairs in student NGOs

Two women threaten to tear the world apart

Can big events really go plastic-free? A water capsule made from seaweed may be the answer

Satellites and data are going to help us phase out fossil fuels. Here’s how

A day that Berlin and Brussels would remember for a long time

Russia and the West to partition Ukraine?

Youth policy in Europe not delivering for young people

Don’t compare data to oil – digitization needs a new mindset

Yemen parties underscore ‘strong desire’ for peace, UN Envoy reports

Baku forum to push back against ‘rise of hate’ with strong call for cultural and religious tolerance, says UN official

Is Germany yielding to pressures for more relaxed economic policies?

This is our chance to completely redefine the meaning of work

Earthquake: Monte Dei Paschi Di Siena

FROM THE FIELD: One teen’s journey from refugee camp to US school principal

How to end overfishing in the global South

MWC 2016 LIVE: CEOs issue rallying call to drive ‘gigabit economy’

Varna (Bulgaria) awarded European Youth Capital 2017

South Korea once recycled 2% of its food waste. Now it recycles 95%

The new Kiev rulers ask $35 billion from the West

Key Brazilian border crossing for Venezuela refugees reopens as asylum numbers pass last year’s total

The EU Consumer Policy on the Digital Market: A Behavioral Economics View

UN chief appeals for calm as Mali presidential election draws to a close

These coastal countries are sinking the fastest

This project in India helps people and tigers co-exist peacefully

Who is to lose from the 6-month extension of the EU economic sanctions against Russia?

Main results of Environment Council of 09 October 2018

Companies can help build a more inclusive world. Here’s how

Philippe de Backer of ALDE at European Business Summit 2015 stresses: “Reinvent your business”

A Sting Exclusive: “Regional Policy: a fully-fledged investment policy”, Commissioner Cretu reveals live from European Business Summit 2015

Yemen: Major UN aid boost for ‘up to 14 million’ as country risks becoming a land of ‘living ghosts’

Internet of Things: a Force for Good or Evil?

Rule of Law: The Commission opens a debate to strengthen the rule of law in the EU

Increasingly under attack, women human rights defenders need better back up

Half the world’s refugee children not in school, UN agency finds

A Sting Exclusive: “Junior Enterprises themselves carry out projects focusing on the environment”, JADE President Daniela Runchi highlights from Brussels

Europe’s poor investment in digital is threatening prosperity. Here’s what its start-ups need

This AI is working with a fleet of drones to help us fight ocean plastic

Corruption In The Balkans Is Impeding EU Membership

The West castigates Turkey’s Erdogan for the ruthless political cleansing

GDPR and the World Cup have these 4 things in common

Data is the oil of the digital world. What if tech giants had to buy it from us?

Iran: UN rights chief ‘deeply disturbed’ by continuing executions of juvenile offenders

MEPs back measures to reconcile career and private life

Brexit kick-off: a historic day for the EU anticlockwise

First-ever World Braille Day underscores importance of written language for human rights

Work to make the world a better place: 5 things you need to know about ‘green jobs’

The European Sting live from the World Economic Forum 2015 in Davos

This mobile laundry gives homeless people free showers and washes their clothes

Here’s how to make ‘value-based healthcare’ a reality

‘InvestEU’ programme: big boost for jobs, growth and investment

LED lights could stop turtles and birds from drowning in fishing nets

Traditional knowledge at ‘core’ of indigenous heritage, and ‘must be protected’, says UN Forum

This is the state of the world’s health, in numbers

Trade war or not New York bankers will have it their way

A new crop of EU ‘Boards’ override the democratic accountability and undermine the EU project

Further reforms will promote a stronger and more inclusive Hungarian economy

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s