Release of new US exemptions expected this week

Release of new US exemptions expected this week

The second round product exclusions to be granted under the framework of the S201 safeguard remedies is expected to be released by the US authorities towards the end of this week. A total number of 650 requests have been submitted to the US Trade Representative's Office for exclusions. This number, being not as high as the first year requests, is not expected to arise too much objections from the US producers' side. The 30% duties on flat products will drop to 24% as he first year of the three-year safeguards will expire on March 24, 2003. Furthermore, the industry reports refer to a probable delay of an interim report prepared by the WTO Dispute Settlement Body, regarding these S201 safeguard tariffs. This confidential report, expected to be released at an unknown date, will only be made public after a month of time following its release to the related parties. It is stated that there has so far been no case that WTO ruled in favour of a country's safeguard action.