EU adopts retaliative measures in response to US steel and aluminum tariffs

European Commissioner for Trade Cecilia Malmström. © European Communities, 2009/Source: EC – Audiovisual Service.

This story is brought to you in association with the European Commission

This is a European Commission release

Brussels, 20 June 2018

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

Advertising

Advertising

Advertising

Advertising

Featured Stings

Can the US-Iran rapprochement change the world?

EU takes again positive action on migration crisis while Turkey asks for dear favors in exchange for cooperation

Medschool 4.0: how to succeed in the smart revolution of healthcare

Italian voters put again the European Peoples in the Brussels picture

From diamonds to recycling: how blockchain can drive responsible and ethical businesses

Why Eurozone can afford spending for growth

Eurozone’s north-south growth gap to become structural

The Oslo model: how to prepare your city for the electric-vehicle surge

Ukraine turns again to the EU for more money

‘We face a global emergency’ over oceans: UN chief sounds the alarm at G7 Summit event

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

Following the World Cup? Then you’re watching high-performing migrants at work

What we take for granted: The EU is not perfect

The historic accomplishment of a seamless EU patent and intellectual property space

MARKUP initiative to boost market access to Europe for East African SMEs

Fostering global citizenship in medical students through exchanges

Ben Stiller’s new role, more about hope than humour, as he’s named Goodwill Ambassador for UNHCR

Global Citizen-Volunteer Internships

Young? You should work out the entrepreneurial heart before the mind

For how long will terror and economic stagnation be clouding the European skies?

Eurogroup president swallows statement on savings confiscation

PM May fosters chauvinism, declares trade war on Europe

The battle for the 2016 EU Budget to shake the Union; Commission and Parliament vs. Germany

Imported and EU fisheries products should be treated equally

Jakarta is one of the world’s fastest disappearing cities

The refugee crisis as a young Nigerian doctor sees it

Trump’s Russophiles under investigation, Europe remains ‘en garde’

Senior UN children’s advocate says they ‘should never be targeted by violence’

Jeroen Dijsselbloem new Eurogroup president

Politics still matter in the US but not in Europe

Mental health in medical students: the deciphered quandary

Parliament sets up plan to fight the 3,600 criminal rings of EU

Cyber defence: MEPs call for better European cooperation

Vĕra Jourová, European Commissioner in charge of Justice

The New EU-US “Shield” for data privacy is full of holes

Macron’s Presidency: what the young generation’s expectations are

G20 LIVE: Fact Sheet from the G20 Leaders Summit and key outcomes (G20 Antalya 2015 Summary)

European Youth Forum welcomes steps towards raising awareness of youth rights by EU ministers

Ethiopia is Africa’s fastest-growing economy

Mali: Presidential elections critical to consolidate democracy, says UN peacekeeping chief

VW emissions scandal: EU unable to protect its consumers against large multinationals

The third bailout agreement for Greece is a done deal amid European economies full of problems

EU budget: Regional Development and Cohesion Policy beyond 2020

1 million citizens try to create a new EU institution

WEF Davos 2016 LIVE: “There is a communication issue (about China) which markets don’t like” Christine Lagarde, Managing Director of IMF stresses from Davos

Spirit unlimited

Tackling Youth Unemployment

Who threatens the lives and livelihoods of Ukrainians?

G20 LIVE: “This was not an attack against France, this was an attack against the universal human values!”, EU President Juncker cries out from G20 in Antalya Turkey

EC v Samsung: A whole year to compile a case

Junior Enterprises as a solution for Youth Entrepreneurship

Spanish vote – bad luck for Greece: Does Iphigenia need to be sacrificed for favourable winds to blow in Eurozone?

‘Immense’ needs of migrants making perilous journey between Yemen and Horn of Africa prompts $45 million UN migration agency appeal

Global health challenges require global medical students

The EU Parliament slams Commission on economic governance

JADE Generations Club: Connecting perspectives, changing Europe.

De Gucht: More gaffes with the talks on the EU-US free trade agreement

COP21 Breaking News_07 December: “The world is expecting more from you than half-measures”, UN Secretary General Bank Ki-moon cries out from Paris

Eurozone has practically entered a deflation trap

Here are six bold ideas to accelerate sustainable energy innovation

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