According to a press note, released by the European Commission this Wednesday, the EU is set to impose additional duties on selected imports from the United States. The European Commission endorsed today the decision to start applying the rebalancing duties as part of the EU’s response to the US tariffs on steel and aluminium products.
Following today’s decision, the Commission expects to conclude the relevant procedure in coordination with Member States before the end of June so that the new duties start applying in July.
The EU exercised its rights under the WTO Safeguards Agreement and imposed rebalancing duties on US products valued at up to €2.8 billion of trade. The remaining rebalancing on trade valued at €3.6 billion will take place at a later stage – in three years’ time or after a positive finding in WTO dispute settlement if that should come sooner.
Commissioner for Trade Cecilia Malmström said: “This is a measured and proportionate response to the unilateral and illegal decision taken by the United States to impose tariffs on European steel and aluminium exports. What’s more, the EU’s reaction is fully in line with international trade law. We regret that the United States left us with no other option than to safeguard EU interests.”
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