EU announces tit-for-tat response to US steel tariffs

BRUSSELS, July 18 (KUNA) -- The European Commission Wednesday announced what it described "provisional safeguard measures" concerning imports of a number of steel products to deal with the diversion of steel from other countries to the EU market as a result of the recently imposed US tariffs on steel.
The measures will come into effect on Thursday 19 July, said the EU's executive body in a statement.
EU Commissioner for Trade Cecilia Malmstrom commented "the US tariffs on steel products are causing trade diversion, which may result in serious harm to EU steelmakers and workers in this industry.
"We are left with no other choice than to introduce provisional safeguard measures to protect our domestic industry against a surge of imports. These measures nevertheless ensure that the EU market remains open, and will maintain traditional trade flows," she said.
The provisional measures concern 23 steel product categories and will take the form of a Tariff Rate Quota (TRQ).
For each of the 23 categories, tariffs of 25 percent will only be imposed once imports exceed the average of imports over the last three years.
These measures are imposed against all countries, with the exception of some developing countries with limited exports to the EU, noted the statement. (end) nk.hb