Reuters reported that the World Trade Organization has announced that European Union and Turkey have agreed the European Union has until 16 January 2023 to comply with a World Trade Organization ruling regarding its safeguard measures designed to curb steel imports.The EU introduced “safeguard” measures in July 2018 in the form of tariff-rate quotas. They allow various grades of steel to come into the bloc free of tariffs up to certain quotas, but any further imports face 25% tariffs. Turkey, which is a major steel exporter to the EU, complained that the EU’s measures breached the bloc’s commitments to the WTO. A WTO panel in April accepted Turkey’s view that the European Commission had failed to show that steel imports rose because of unforeseen developments and that the EU industry was threatened with serious injury.Under WTO rules, members are allowed to impose safeguards under specific conditions, including that imports have risen to the point where they are damaging domestic industry and that this should be the result of unforeseen developments.
Reuters reported that the World Trade Organization has announced that European Union and Turkey have agreed the European Union has until 16 January 2023 to comply with a World Trade Organization ruling regarding its safeguard measures designed to curb steel imports.The EU introduced “safeguard” measures in July 2018 in the form of tariff-rate quotas. They allow various grades of steel to come into the bloc free of tariffs up to certain quotas, but any further imports face 25% tariffs. Turkey, which is a major steel exporter to the EU, complained that the EU’s measures breached the bloc’s commitments to the WTO. A WTO panel in April accepted Turkey’s view that the European Commission had failed to show that steel imports rose because of unforeseen developments and that the EU industry was threatened with serious injury.Under WTO rules, members are allowed to impose safeguards under specific conditions, including that imports have risen to the point where they are damaging domestic industry and that this should be the result of unforeseen developments.
