European Union (EU) member states have agreed today on a reform that will enable the bloc to impose higher duties on excessively cheap imports. After three years of wrangling, the representatives of the 28 EU member states voted by a qualified majority to authorize higher tariffs than permitted, if exporters from third countries benefit from lower commodity prices.
“Europe can not be naive and must defend its interests, especially in the case of dumping. This is a very important step towards a more solid decisions so as to help EU producers to deal with unfair competition and practices”, said Peter Ziga, the Minister of Commerce of Slovakia, which holds the rotating EU presidency.
Currently, the European Union applies a ceiling on tariffs on imports from third countries, known as “injury margin”. In the future, however, will be able to apply a dumping margin in full depending on the damage.
The cold rolled steel from China, for example, the dumping margin is above 50%, but the injury margin is about 20%. For the same steel duty in the US is more than 200%.
Provide and change for the period within which the European Commission to impose anti-dumping duties. This shall include the possibility of European authorities to launch their own investigation even when the industry has not complained of dumped imports.
Changes so far been blocked by Britain and other EU countries that support free trade.
The reform will need to be supported by the European Parliament.
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