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EU Safeguards - Taiwan to negotiate EU tariffs on steel

Steel News - Published on Fri, 20 Jul 2018

Image Source: Steel 360
Taipei Times reported that the Taiwanese government will continue to negotiate the exemption of Taiwanese steel exports from the EU’s 25 percent tariffs. The Ministry of Economic Affairs said that the government would urge the EU to end its investigation into steel tariffs and ask for a quota for Taiwanese steel suppliers, the Bureau of Foreign Trade said in a statement, adding that the bureau would join a public hearing on the subject in September.

Citing trade data, the bureau said Taiwanese shipments of the 23 steel products to the EU last year totaled USD 1.3 billion, ranking seventh in the European market. That represented 8.83 percent of Taiwan’s total steel exports last year, data showed.

Taiwan Steel and Iron Industries Association chairman Lin Horng-nan,also president of China Steel Corp, said “The situation is not that tough for Taiwanese steelmakers, compared with the US’ protectionist measures. EU’s 25 percent duties would only be imposed once imports exceed the average imports over the past three years and would be allocated on a first-come, first-serve basis. In addition, the temporary tariffs posed by the EU would only remain in place for up to 200 days.”

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Posted By : Sanju Moirangthem on Fri, 20 Jul 2018
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