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October 12, 2020

Around The Globe: New Actions On Steel Products

Several countries have recently announced trade actions for steel products, including:

  • The European Union, which, according to Reuters, will impose tariffs on imports of hot-rolled stainless steel coils and sheets from China (19 percent), Indonesia (17.3 percent), and Taiwan (7.5 percent) after an investigation found they were being sold at artificially low prices. The tariffs took effect on October 8, 2020. Click here to read more from the European Commission.
  • The United Kingdom, which according to Hellenic Shipping News, released guidance for safeguard measures to be applied on imports of steel products into the UK following the conclusion of the Brexit transition period on January 1, 2021. The News explained, the UK “will adopt a broadly similar Tariff Rate Quota (TRQ) system to that currently in operation within the European Union.” That system was first “implemented by the European Commission in February 2019, in response to a surge in imports triggered by the United States Section 232 tariffs.”
  • The Mexican economic secretariat, which, according to FastmarketsAMM, has launched an anti-dumping investigation into imports of steel slab from Brazil and Russia after it received a request from ArcelorMittal Mexico. The investigation will look into imports from January to December 2019, analyzing imports of carbon and alloy steel slabs classified under tariff codes 72071299, 72072099, 72249002 and 72249099. Click here to read more.