EU to Implement Safeguard TRQs on Steel
The European Union will implement new safeguard tariff rate quotas on steel imports on July 19, the European Commission said in a July 18 news release. The new TRQs follow an investigation (see 1803260015) into ways the EU could prevent a glut of steel imports after the U.S. put in place its tariffs on the metal. Tariffs of 25 percent will be imposed on imports of 23 categories of steel products after exceeding the average of imports over the last three years, the EC said. "The quota is allocated on a first come first serve basis, thus at this stage not allocated by individual exporting country," it said. "These measures are imposed against all countries, with the exception of some developing countries with limited exports to the EU. Given the close economic links between the EU and the European Economic Area (EEA) countries (Norway, Iceland, and Liechtenstein), they have also been exempted from the measures."
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The safeguard TRQs will be in effect for a maximum of 200 days, it said. The EC will consider public comments on the investigation and will produce a final conclusion by early 2019 that may result in "definitive safeguard measures," it said. "We are left with no other choice than to introduce provisional safeguard measures to protect our domestic industry against a surge of imports," EC Commissioner for Trade Cecilia Malmstrom said. "These measures nevertheless ensure that the EU market remains open, and will maintain traditional trade flows. I am convinced that they strike the right balance between the interest of EU producers and users of steel, like the automotive industry and the construction sector, who rely on imports. We will continue to monitor steel imports in order to take a final decision by early next year, at the latest."
The EU released specific information on the TRQs and steel categories in a notice. Subheadings subject to the TRQs are found in EU tariff headings 7208, 7209, 7210, 7211, 7212, 7213, 7214, 7215, 7216, 7217, 7219, 7220, 7221, 7222, 7225, 7226 and 7227, as well as in 7301, 7304, 7305 and 7306. Not all subheadings within these headings are covered.