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Image header Agence Europe
Europe Daily Bulletin No. 8177
GENERAL NEWS / (eu) eu/usa/steel

Commission concludes its safeguard measure

Brussels, 21/03/2002 (Agence Europe) - At the end of two weeks of intensive consultations with Member States, the EP, the sector and the European Commission finalised their defensive mechanisms on Thursday, which will be implemented forthwith, in order to dissuade steel exporters refused access to the US market last Wednesday, from selling their unsold products in the single market. Member States were unanimous in their support but appear, nevertheless, less enthusiastic about implementing retaliatory measures if the EU doesn't obtain compensation from the US. Safeguard measures will essentially concentrate on the overall quota that will remain for six months (see EUROPE yesterday page 5). They will remain in force beyond this deadline, with the formal adoption by majority qualified voting of a more long-term regulation by the Council of Ministers. On Wednesday the US Trade Representative, Robert Zoellick, said that he hoped that the EU would not rush to impose its own safeguard restrictions on imports. The US said that it was willing to discuss compensating other countries for lost steel trade due to their measures, "if people present a reasonable proposal". Mr Zoellick found Brussels' action to protect the health of the EU market from the flood of steel imports, a "little bit worthy of question". He claimed that the EU should wait and see if imports actually increase, which they may not do, he added.

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