EU S201 steel hit list headed to WTO

EU S201 steel hit list headed to WTO

Two lists of retaliatory tariffs completed by the European Commission (EC) are on their way to the World Trade Organization (WTO). The lists of steel products from the U.S. to be hit with tariffs of up to 100% on some items, are what the EU terms as potential countermeasures in response to the Bush administration hitting steel imports with tariffs of up to 30% through the Section 201 (S201) ruling. The EU chose its retaliation stance based on the fact that both the EU and the U.S. in recent meetings remained in a deadlock over tariffs and compensation. The EU said its move follows WTO rules which call for notification to be made 60 days after the U.S. measures take effect. According to those rules, the lists are a procedural step that must be followed and submitted by the deadline of May 17. The WTO plans to consider an initial request by the EC for a panel of experts to investigate the case on May 22. Meanwhile, the EU claims it is entitled to compensation of at least ?2.4 billion and wants tariff exemptions as well. Sources report that a short-list might be implemented by June 18 with a possible $364 million in duty to be collected. Compiled below are two lists of steel products/items to be hit: U.S. Imports - 100% Duty on Iron/Steel Products: Flats - clad, plated, coated of 600mm or more width Stainless Steel Flats - less than 600mm Stainless Steel - Bars and Rods, angled, shaped, sections Structures - plates, rods, angles, shapes, sections, tubes Tanks - similar containers up to 300l; excluding liquefied gas containers, other cast items. U.S. Imports - Iron/Steel Items: Stainless Steel - above 600mm width Stainless Steel Wire Alloy Flats - less than 600mm width Alloy Bars -(including hollow drill) Alloy Wire Sheet-Piling Iron or Steel Tubes - related goods, including fittings; excluding cast iron pipes Tanks - similar containers over 300l Compressed or Liquefied Gas Containers - related products Stranded Wire - similar items included, exception: electrically insulated Fencing - related products Chains - Screws and related products Springs - leaves for springs Stoves Radiators - non-electric Kitchen Sanitary ware