WTO backs some Turkish claims against EU steel import curbs -Breaking
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© Reuters. FILEPHOTO: This is a man working at ISDEMIR (Turkish steel producer) in Iskenderun, Hatay on May 6, 2010. REUTERS/Umit Bektas/File PhotoGENEVA, (Reuters) – The World Trade Organization (WTO), accepting some Turkish complaints about European Union’s measures to reduce steel imports and advising the bloc to align them with international trading rules on Friday.
In July 2018, the EU implemented “safeguards” in the form tariff-rate quotes. The EU allows steel of various grades to enter the bloc without any tariffs above a set number, however imports of additional steel are subject to 25% tariffs.
They were to remain in effect for 3 years until June 2021. Quota limits would increase by 5% annually. Turkey however complained about the lower increases of 5%. They have been extended up to 2024.
European Commission overseeing EU trade policy said that the verdict was overall satisfactory because the major issues had been settled in favor of it and WTO panels confirmed the possibility of safeguards being used to protect the domestic sector.
After the WTO adopted the final ruling, the Commission admitted that it had ruled in Turkey’s favor on three points.
During a holiday visit to Turkey, the Turkish government wasn’t immediately available for comment.
EU officials stated that the measures were necessary to prevent a surge in imports from the United States after the Trump-era metal tariffs effectively shut down the U.S. Market.
Joe Biden’s leadership, the United States lifted some tariffs on exporting countries, including those of 27 European Union member states.
Turkey is an important steel exporter to EU. It complained about EU measures violating WTO commitments.
WTO rules permit members to set safeguards under specific conditions. These include that imports have increased to the point that they are threatening domestic industry.
A three-person WTO panel agreed with Turkey that the European Commission did not show steel imports rose due to unanticipated developments. The EU was also being threatened by serious injury.
Other claims from Turkey were rejected by the panel or not considered.
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