EU definitive safeguard measures on seven products
The European Commission clarified the details of its definitive measures. According to the decisions of the commission, measures are limited to seven of the initially investigated twentyone group of products, yet the remaining products will closely be monitored by an import surveillance system and any increase in the imports of these products will lead to the inclusion of same into the definitive safeguard measures. These seven products included in the definitive measures are;• HR coil • HR sheet and plate • HR narrow strip • Alloy HR flat products • CR sheet • Fittings • FlangesFurthermore three more products namely tin mill products, quarto plate and rebar are still under investigation and the outcome will be clear latest by February 2003. Developing countries individual share EU imports of product of which is not exceeding 3% will not be effected from these definitive measures. Tariff quotas will allow the trading of these seven products at traditional levels. In case these quotas are exceeded duties at the rate of 17.5%-26% will be applied. The tariff quotas are designed to be abolished progressively over the next three years but will also be terminated once the US measures are repealed, whichever is sooner.