EU to impose duties on U.S. products starting July 2018

BRUSSELS. KAZINFORM - Starting July, the European Union will impose additional duties on the U.S. products in response to U.S. customs tariffs on steel and aluminum from Europe. The decision was made Wednesday during a meeting of the leadership of the European Commission, Kazinform correspondent reports with reference to the press service of the Commission.

"The College of Commissioners endorsed today the decision to impose additional duties on the full list of US products notified to the World Trade Organisation (WTO), as part of the EU's response to the US tariffs on steel and aluminium products," the statement reads.

The list compiled by the European Commission included a whole range of consumer and agricultural goods, as well as steel products. In addition, the 25-percent duty will be imposed on jeans, cosmetics, motorcycles, yachtsб and Bourbon whiskey.

The European Commission expects to conclude the relevant procedure in coordination with the Member States before the end of June so that the new duties start applying in July.

The WTO Safeguards Agreement allows for a rebalancing corresponding to the damage caused by the US measures with EU exports worth €6.4 billion (2017) being affected.

"The EU will therefore exercise its rights immediately on US products valued at up to €2.8 billion of trade. The remaining rebalancing on trade valued at €3.6 billion will take place at a later stage - in three years' time or after a positive finding in WTO dispute settlement if that should come sooner," the European Commission's statement reads.

Earlier, United States Secretary of Commerce Wilbur Ross said that starting 1 June 2018 U.S. will impose additional duties of 25% and 10% respectively on imports of steel and aluminum from the EU.