Defensive reaction. European Commission introduces temporary security measures against imports of American steel products. This is a response to the imposition of duties by the United States. With details – Irina Ivanova from Brussels.
Us rates closed the US market for European manufacturers and threaten a sharp increase of supply in the region. The European Commission feared that the toll could hurt the industry enterprises and the workers in the European Union. Supposedly, the steel industry of the EU and so is in a difficult position.
The main suppliers of steel to the EU are China, India, Russia, South Korea, Turkey and Ukraine. As explained by the European Commissioner for trade Cecilia malmström, tariff quotas will affect the 23 categories of goods and steel. The amount of the fee 25%. But will introduce them only after imports exceeded the average for the last three years.
“American tariffs on steel products harm the trade that can cause serious damage to the metallurgical enterprises in the industry. We have no other choice but to impose temporary measures to protect our markets. At the same time, EU markets remain open and will maintain traditional trade flows”.
Restrictive measures come into effect from Thursday and will last no more than 200 days.
The European Commission’s decision immediately commented the Association of European automakers. There predict a rise in steel prices after the innovation.
Against the backdrop of trade debate with the United States, the European Union and Japan signed a free trade agreement. The other day a delegation from the EU visited Tokyo, where he agreed with the Japanese side to eliminate duties on more than 90% of goods from the European Union, in particular on products. And the EU cancels tariffs on 99% of goods from Japan, among them consumer electronics and cars.
“Today’s agreement will have an impact outside of our countries. Together, we demonstrate a tacit opposition and declare about the future of free and fair trade. We show that stronger and better when we act together,” says Jean-Claude Juncker, President of the European Commission.
Bilateral negotiations on free trade Brussels and Tokyo were even with 2013, but could not agree on the abolition of tariffs on European cheese and wine, as well as Japanese cars and parts. Apparently, politics Donald trump has accelerated the process. The agreement will be ratified in March next year – after the British exit from the EU.