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EU: EC investigation to prevent “trade diversion” of steel products

EU: EC investigation to prevent “trade diversion”

The European Commission initiated a safeguard investigation on imports of a number of steel products into the European Union.

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As noted in an EC release, the safeguard investigation is one of three types of measures announced in response to the U.S. proposed tariffs on steel and aluminum. The EC investigation concerns products of all origin. The EC procedure can also result in imposition of import tariffs or quotas that would shield EU producers from excessive imports, if necessary.

The surveillance system for imports of steel may have greater urgency if access to the U.S. market is limited, and steel products from other parts of the world previously destined for the United States may be redirected to Europe. The investigation will cover 26 steel product categories, and is expected to be concluded within nine months.

 

For more information, contact a professional with KPMG’s Trade & Customs practice:

Douglas Zuvich | +1 (312) 665-1022 | dzuvich@kpmg.com

Andrew Siciliano | +1 (631) 425-6057 | asiciliano@kpmg.com

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