By Maria Tanatar / June 20, 2018 / www.metalbulletin.com /
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The European Commission (EC) is introducing rebalancing measures this week in response to the US tariffs on steel and aluminium, it said on Wednesday June 20.
The measures will immediately target a list of products worth ?,?2.8 billion ($3.24 billion) and will come into effect on Friday June 22.
The list of
US imports that will now face an extra duty at the EU border include steel and aluminium products, among other goods.
The move is part of the European Union's response to the imposition Section 232 tariffs by the US on imports of steel and aluminium products, the EC said.
The US
imposed tariffs of 25% on steel and 10% on aluminium imports from Canada, Mexico and the EU from June 1 at the end of a one-month exemption.
The EU rebalancing measures will be effective for as long as the US measures are in place.
"We did not want to be in this position," the European commissioner for trade, Cecilia Malmstr??m, said. "However, the unilateral and unjustified decision of the US to impose steel and aluminium tariffs on the EU means that we are left with no other choice.
"The rules of international trade, which we have developed over the years hand in hand with our American partners, cannot be violated without a reaction from our side. Our response is measured, proportionate and fully in line with WTO rules. Needless to say, if the US removes its tariffs, our measures will also be removed," she added.
The
EC opened a safeguarding investigation into 26 steel products on March 26 in an attempt to prevent the redirection to the EU market of steel shipments originally destined for the US.