EU countries back measures to limit steel imports

EU countries back measures to limit steel imports

BRUSSELS - Reuters
EU countries back measures to limit steel imports

European Union countries voted on July 5 in favor of provisional measures proposed by the European Commission to curb steel imports into the bloc, a Commission spokesman said.

The Commission has proposed a combination of a quota and a tariff to prevent a surge of steel imports, notably since the United States imposed levies on incoming steel and aluminum.

“This is intended to prevent the negative effects of trade diversion, but at the same time maintain traditional supply and effective competition on the EU market,” the spokesman said.

The quota would be a reflection of imports over recent years, with a 25 percent tariff set for volumes exceeding that amount, according to sources familiar with the proposal.

The main exporters of steel to the EU are China, India, Russia, South Korea, Turkey and Ukraine.

European Union, steel tariffs, Steel, imports