European Union to foist 25% duty on the US steel and aluminum imports from June 20

From June 20, European Union has planned to foist a 25% duty as a precautionary measure on imports of US carbon and alloy flat and long steel products as well as on aluminum, since US has imposed tariffs on steel and aluminum exports past June 1 and if it does not get extended exemptions from Section 232 tariffs. If World Trade Organization (WTO) does not condemn to the measures, only then they will put on the duties, said by the European Commission in its Official Journal. The duties then will be applied not on metal products but includes a massive variety of US products like textiles, glass ware and oils.  Last Friday, WTO was informed of the latent duties, which are commendably a deferral of trade concessions. Two stages will be seen through these measures, duties ad valorem of 25% on products and 10% on expanded range of products. 25% will be imposed from 20^th June which includes US steel and aluminum imports. The 10%, 25% and 50% will be on expanded products that will be imposed from 23 March 2021. Through these steel tariffs imposition on each other, the most pretentious by the measures would be EU steel industry from the US industry rather than from the US by the EU response. The EU said that the interruption of concessions is an obligatory step in case the EU would do at an advanced stage not be relieved from the duties and decide to impose superfluous customs duties on imports from the US. The EU has a decision to review or modify its list should that be essential or suitable? In 2017, 3.2 million tonnes of carbon steel was exported by EU to the US, whereas 101,160 million tonnes of carbon steel was imported by EU from the US. In 2017, the steel products imported by the US were valued Eur 5.3 billion, along with Eur 1.11 billion of aluminum, and that the procedures by the US could have a substantial negative effect on the European industries.

• [Editor:janita]