Following the unilateral raising on 23 March of US customs duties on imports of steel and aluminium, the European Commission launched a safeguard investigation on Monday 26 March in order to prevent the diversion to the EU market of world steel exports intended for the US market.
While the EU is exempt from the tariffs of 25% on imports of steel and of 10% on imports of aluminium – as are Australia, Argentina, Brazil and South Korea, in addition to Canada and Mexico (see other...