EU: Intention to Grant Quota for EU Steel Will Be in Joint Statement
European Commission trade spokesperson Olof Gill, in a briefing in Brussels, said that the U.S. intention to allow some European steel to be imported without facing a 50% tariff will be in the forthcoming joint statement on the trade agreement. He said the work to set up the quota would follow.
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
Gill also defended the deal itself, arguing that the 15% tariff ceiling will protect European products that are currently not subject to reciprocal tariffs, but could be hit with higher national security tariffs.
"We now have a clear, inclusive 15% tariff ceiling for most European exports," he said. "In other words, we have achieved an insurance policy that no higher tariff will emerge for European businesses, in this extremely volatile and unpredictable contemporary economic environment."