The World Trade Organization (WTO) would review the European Union’s (EU) safeguard measures imposed on imports of certain steel products following a meeting of the Dispute Settlement Body (DSB) on August 28, said WTO’s latest report.
On March 13, Turkey had submitted its first request for the establishment of a panel to rule on import measures levied by the EU on certain steel products. The safeguard measures levied on 26 products out of the 28 products categories and were even more trade restrictive, Turkey said in the statement cited by WTO.
The European Commission, however, concluded that the imports from across the globe caused serious threat and injury to the domestic market. A provisional measure was imposed by means of tariff-rate quota (TRQ) on each product category. In case of exhaustion of TRQ for a product category, an additional duty of 25pc on imports of that product had to be paid. The measures were applied for a span of 200 days from the date of their entry into effect.
The next meeting by DSB is scheduled to take place on September 28. The United States, Switzerland, Norway, the United Kingdom, Ukraine, Russia, Argentina, Canada, China, Korea, Japan, Brazil, and India all reserved their third-party rights to participate in the proceedings.