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EU announces investigation of safeguard measures for imported steel products

Date:2020-08-07View:424Tages:SSAW Steel Pipe
In response to the US high-tariff measures for steel and aluminum, the European Commission announced on the 26th that it initiated a survey on safeguard measures for imported steel products. 
In a statement that day, the European Commission said that the steel security measures investigation involved steel products exported to the EU from all over the world, but the launch of the survey does not mean that specific measures will be taken in the end. If the investigation proves that it is necessary to take action, the EU may impose import tariffs or implement quotas to protect EU steel producers from “over-import”. 
The European Commission said that the investigation initiated on the same day involved 27 steel product categories, which would in principle be completed within 9 months. If the results show that temporary protection measures are necessary, the EU will act as soon as possible. At the same time, the European Commission will further review the market conditions and prepare to respond accordingly. 
The European Commission said that safeguards are one of the trade defense tools recognized by the World Trade Organization, and the EU's investigation procedures will strictly follow the multilateral rules in this regard. 
Wang Hejun, director of the Trade Relief Investigation Bureau of the Ministry of Commerce of China, said on the same day that China hopes that the EU will adopt safeguard measures prudently. He said that China understands that the EU has taken necessary actions to deal with the US taxation measures on imported steel and aluminum products. However, adopting global safeguard measures is not the right choice. It will further aggravate the international trade chaos and panic caused by US measures and cause more serious and devastating impact on the normal international trade order. 
Wang Hejun pointed out that the EU, as an important member of the WTO and an important force in the global trading system, should strengthen cooperation with all members and jointly oppose trade protectionism. Actions that undermine the global trade order should not be taken. China is willing to strengthen communication and cooperation with all parties including the EU to jointly cope with the chaos caused by US measures to the global steel and aluminum trade. 
Wang Hejun said that China will seriously evaluate the impact of US and European measures on China and will take corresponding measures when necessary to resolutely safeguard the interests of Chinese enterprises.