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EU imposes 25% tariffs on steel imports


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EU imposes 25% tariffs on steel imports

Post by rocky on Thu 19 Jul 2018, 3:46 am

EU imposes 25% tariffs on steel imports

2018/07/19 1:29

(Encyclopedia of this Day News | Iraq News ) - Live: The European Union announced the imposition of tariffs by 25% against some imports of steel products to reduce the impact of US fees recently approved.

Washington has imposed tariffs on imports of steel and aluminum by about 25% and 10%, respectively.

The European Union said in a statement issued on Wednesday that these tariffs are temporary and will enter into force on Thursday.

The European Union indicated that customs duties would not be imposed by 25% until imports exceeded the average of the last three years.

EU trade commissioner Cecilia Malmstrom said that US tariffs on steel products are transforming trade into less efficient sources, which could damage the iron and workers industry.

"We have no choice but to take these measures to ensure that EU markets remain open," Malmström said.

Under WTO rules for the application of preventive measures, temporary tariffs may be imposed when there is clear evidence that increased imports may cause or threaten to cause serious harm.

Such measures should be in the form of recoverable customs tariffs, with a maximum duration of 200 days.

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    Current date/time is Tue 23 Oct 2018, 9:50 pm