ISTA and DTI meeting on EU safeguard measures

ISTA and DTI meeting on EU safeguard measures

Representatives from the International Steel Trade Association (ISTA) and the Department of Trade&Industry (DTI) gathered in a meeting on August 15, 2002 where ISTA was given the details of the Commission's recommendations that are currently evaluated by the Member States, prior to the next EU meeting on August 26,2002, in Brussels. During the meeting, the effects of the U.S. anti-dumping and countervailing duties on the European market and the Commission's recommendation that the current system of tariffs and quotas are preserved for another three years (the exact date for initiation of this period is not yet definite). For the time being 7 of the 21 product groups under investigation are selected for definitive measures annual quotas for which will be determined on a 3-year average plus 10%. The duties will be decreasing y 10% each year. The products selected are namely; Product duty non alloy hot rolled coil 26% non alloy hot rolled sheets&plates 26% non alloy hot rolled strip 26% alloy hot rolled flat products 26% cold rolled sheets 26% fittings 23.7% flanges 26% It is mentioned that the above is only a recommendation and the Commission can ignore the Member States and go ahead with any measures unilaterally. A second meeting of ISTA and DTI is scheduled to take place on august 28, 2002.