Joint letter from downstream steel users: imposition of steel safeguards not in Europe's interest
Published: 26 June 2018
Policies & Issues: Trade
A coalition of downstream users of steel – including the automotive, construction equipment, agriculture machinery, home appliance and technology industry sectors – has written to the European Commissioner for Trade, Cecilia Malmström, to express concerns on the safeguard investigation into steel products, launched in March.
The European Commission initiated the safeguard investigation in response to US restrictions on steel and aluminum, with the aim of preventing a surge of steel imports into the EU (‘trade deflection’). The potential result of this procedure would be the introduction of import tariffs or quotas.
“European steel is and will remain an integral part of our supply chains,” the letter states. “Nevertheless, the application of ever greater layers of protection for it will ultimately only have a negative impact on downstream users of these products. Therefore, we are convinced that the imposition of safeguard measures is not in Europe’s interest.”
Please download the document to read our letter in full.
Adviser - Trade & Legal