EU reacts to US tariffs with safeguard measures

The tug of war between the European Union and the United States regarding steel and aluminum seems to be far from its conclusion. As expected, this time it is the EU to raise its voice, putting pen to paper new threatening countermeasures to the US tariffs. 

According to EU's Official Journal published on May 17, the European Union will impose a 25% duty on US carbon and alloy flat and long steel product imports, as well as aluminum, from June 20 if America does not extend the exemptions from Section 232 tariffs on steel and aluminum exports beyond June 1. 

This safeguard measure (which concerns not only steel and aluminum, but also a vast range of US wares) will be structured in two parts: the first one, which could come into force from the 1st of June, will reflect the US one, by imposing ad valorem duties of max. 25% on imports of almost two hundred products - included steel and aluminum flat and long products. The second stage will see ad valorem duties on an expanded range of products of 10%, 25% and 50% and may become effective March 23, 2021.

Duties will only apply if the World Trade Organization does not object to the measures. 

Is it really the beginning of a commercial war?

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