EU adopts temporary measures to guard against floods of steel imports resulting from US protectionism
The European Commission adopted safeguard measures on steel. Following the US action to severely restrict steel imports on 20 March, the EU measures are designed to prevent floods of steel imports being diverted into the EU. The measures have been drawn up with scrupulous attention to WTO rules.
The safeguard establishes a generous level of imports - within which the measures will not apply - based on the highest recent level of imports (2001). Beyond these levels, tariffs will apply varying from 14.9% to a maximum 26%. These temporary measures, due to enter into force in the coming days, will last for a maximum of 6 months.
During this time, a thorough investigation of the effects of the US measures will be carried out. Developing countries will be effectively excluded from the measures, in line with WTO rules.
Announcing the decision, EU Trade Commissioner Pascal Lamy said: `Unfounded, unnecessary and unfair US action has forced us to take temporary steps to look after EU industry, and EU workers. But we have done this without indulging in protectionism. Unlike the US, we will keep our market open to imports from the rest of the world. These limited and carefully crafted measures have one simple goal: to prevent a flood of diverted steel coming into the EU market.':
