Rebalancing duties on US products: «Fully in line with WTO rules», says Commission

Following the yesterday College of Commissioners’ decision to impose additional duties on the full list of US products notified to the World Trade Organisation (WTO), as part of the EU’s response to the US tariffs on steel and aluminium products, 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 application of the rebalancing duties is fully in line with WTO rules, and corresponds to a list of products previously notified to the WTO. The WTO Safeguards Agreement allows for a rebalancing corresponding to the damage caused by the US measures with EU exports worth €6.4 billion (2017) being affected», said the Commission. The EU will therefore exercise its rights immediately 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».

«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, added Commissioner for Trade Cecilia Malmström. 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».

 

Photo: Harold Cunningham / © Union européenne , 2012 / Source: EC – Service Audiovisuel