Starting today, the EU tariffs against additional steel imports

From today, the EU customs duty against additional steel imports

BRUSSELS. The European Commission rejects its own iron and steel industry with this measure – Nevertheless, there are critics

Photo: Reuters

Special taxes on iron and steel products to protect European manufacturers from serious market distortions caused by new US tariffs. According to the European Commission, the additional duty of 25 per cent will be due on imports, which add to those of the EU because of US tariffs.

There is therefore no change in the clearance of traditional import volumes. They are defined by the EU as the average quantities of the last three years. The goal is to prevent car manufacturers and construction companies dependent on steel imports from suffering protective measures because of rising prices.

The European badociation of car manufacturers Acea was nevertheless angry and pointed out that prices should increase despite the volume of free trade. "These measures will affect our competitiveness," said Acea Secretary General, Erik Jonnaert. In Europe, steel prices are already very high

Cecilia Malmström, European Commissioner for Trade, spoke of the decision to find the right balance between the interests of European steel producers and those of the European Union. steel consumers. Tariffs on iron and steel products lead to a diversion of trade flows that could seriously harm European steel producers and steel workers, "said Malmström, with the EU having no choice but to reacting with interim safeguard measures Already in June, the European Commission had set retaliatory tariffs on US products such as whiskey, jeans and motorbikes in effect. introduction of US special taxes on steel and aluminum products that Europeans consider to be incompatible with the World Trade Organization (WTO) rules.

US President Donald Trump justifies additional obligations, However, the EU believes that this is unbelievable and badumes that it is only about giving advantages to American manufacturers.

See the comments »