EU starts safeguard investigation into US-tariff-diverted steel imports

2018-03-30 14:55:27

The European Commission has launched a safeguard investigation into imports of steel products, with a specific focus on the potential diversion of trade resulting from the new US tariffs, Kallanish learns from an official note.

“The investigation will determine whether, as a result of unforeseen developments, the products concerned are being imported into the Union in such greatly increased quantities and/or on such terms or conditions as to cause, or threaten to cause, serious injury to the Union producers of like or directly competing products,” the note explains.

A possible decision could include the definition of a quotas system for the imports into the EU, as requested by Eurofer. The investigation is expected to last a maximum of nine months.

As reported, in January-February imports of steel products into Europe increased a further 12% year-on-year from the record levels already registered in 2016 and 2017. Meanwhile, the EU achieved its first goal of securing a temporary exemption from the US tariffs while negotiations for a permanent exemption continue.