The EU Has Begun To Implement Protective Measures To Curb Steel Imports

- Jul 19, 2018-

1. The EU began implementing protective measures on July 19 to curb steel imports. The EU official gazette said that the EU will start protective measures on Thursday to prevent a surge in steel imports into the EU after tariffs on imported steel and aluminum in the United States. The European Commission has proposed a combination of quotas and tariffs to address EU concerns; the EU is concerned that steel products that are no longer exported to the United States may turn into the European market. The quota for 23 steel products is based on the import situation in the past three years, and the imported steel products exceeding the quota will be subject to a 25% tariff.


2. The EU will cancel the 10% tariff on Japanese cars and oppose the United States to impose tariffs on steel and aluminum. Dealing with US trade protectionism Japan and the EU signed a free trade agreement. European Council President Donald Tusk, European Commission President Jean-Claude Juncker and Japanese Prime Minister Shinzo Abe signed the Economic Partnership Agreement (EPA) in the Japanese capital Tokyo on the afternoon of the 17th. According to the agreement, the EU will cancel 99% of tariffs on imports from Japan; Japan will cancel 94% of EU import tariffs, including 82% of agricultural products and aquatic products; in the next few years, 99% of EU import tariffs will be phased out.