According to the Commission’s official statement posted this morning, the EU market will now impose a temporary tariff rate quota system on 23 steel products exported from nearly all countries outside the EU. Quotas will be determined by the three-year average yearly imports of the specific products, and once the quota is reached additional imports will be subject to a 25% tariff. The system will be in effect starting tomorrow, 19 July, and last for a maximum of 200 days while the EU continues their evaluation of the situation, following which the European Commission may choose to adopt more permanent measures.

“The US tariffs on steel products are causing trade diversion, which may result in serious harm to EU steelmakers and workers in this industry,” said Commissioner for Trade Cecilia Malmström. “We are left with no other choice than to introduce provisional safeguard measures to protect our domestic industry against a surge of imports.”