The European Union is considering eliminating counter tariffs on steel

  • Tuesday, March 2, 2021
  • Source:ferro-alloys.com

  • Keywords:Steel, steel products, import tariffs, steel tariffs
[Fellow]The European Commission is examining the possibility of lifting import tariffs on steel products by June 30 this year. The tariff has a negative impact on U.S. ship exporters.
The European Commission is examining the possibility of lifting import tariffs on steel products by June 30 this year. The tariff has a negative impact on U.S. ship exporters.
Here is a policy of imposing a 25% tariff on 26 types of steel products entering the 27-nation European Union. In 2018, the Trump administration imposed tariffs of 25% and 10% on steel and aluminum products entering the U.S. market, and the European Union subsequently launched the tariff policy to counter.
The U.S. move has led to overcapacity, and Asian exporters are eager to clear their inventories. Europe has placed hope on the new Biden administration, which is expected to be a better partner than the former Trump administration.
However ,12 EU countries have asked the European Commission to continue the steel import restrictions beyond June 30. The 12 countries are Belgium, Bulgaria, the Czech Republic, Finland, France, Germany, Hungary, Italy, Luxembourg, Poland, Slovakia and Spain.
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  • [Editor:wenxin]

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