World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search


EU welcomes termination of US steel safeguard

5 December 2003

US Steel: EU welcomes termination of US steel safeguard measure

The US announced yesterday the full and immediate termination of its steel safeguards.

EU Trade Commissioner Pascal Lamy said: “I am pleased to see that after nearly two years of litigation, the US has decided to abide by their international obligations by lifting the illegal safeguards. EU steel producers and workers will be relieved, as will those in the seven other countries which stood together with the EU in contesting these measures. But more importantly, this is a test case of how important is a rules-based international trading system for all of us.”

“We should now concentrate our efforts in the OECD steel talks to cut down trade distorting subsidies and global excess steel capacity, which is at the root of the problems by the US steel industry,” said Commissioner Lamy.

The repeal of the steel safeguards is combined with the introduction of a surveillance mechanism. The EU will closely monitor the situation to ensure that this mechanism is applied in full conformity with WTO rules.


On 5 March 2002, the US adopted safeguard measures on imports of certain steel products in the form of additional tariffs up to 30% which entered into effect as of 20 March 2002. The EU, together with by Japan, Korea, China, Switzerland, Norway, New Zealand and Brazil, immediately challenged these measures in the WTO. The Panel reports of 11 July 2003 and the Appellate Body report of 10 November 2003 upheld the complainants’ arguments that the US steel safeguards are in violation of WTO rules.

On 14 May 2002, the EU notified the WTO that it reserved its right to re-balance the adverse effect of the US steel safeguards. On 13 June 2002, the Council unanimously adopted a re-balancing regulation, providing for the automatic application, 5 days after the condemnation of the US measures in the WTO, of additional duties on $ 2,243 million of US exports to the EU. This regulation also provides that the Council shall decide on the basis of a proposal from the Commission on the repeal of the re-balancing measures once the US steel safeguards are lifted.

On 4th December 2003, the US announced the full and immediate termination of its steel safeguards.
Now that the US safeguard measures have been terminated in full, the EU will immediately take the necessary steps both to repeal the EU counter-measures and to terminate the EU safeguard measures which were adopted in March 2002 to guard against the risk of a flood of steel imports as a result of the US safeguards.

For more information, see the following links:


© Scoop Media

World Headlines


UN: Decades Of Health Gains At Risk In Brazil Due To COVID-19

Although COVID-19 cases are declining in Brazil, the pandemic is putting decades of public health gains there at risk, the head of the World Health Organization ( WHO ) said on Friday. With global attention and support focused this week ... More>>

UN Report: Myanmar Approaching Point Of Economic Collapse

The turmoil following the military coup in Myanmar, coupled with the impact of COVID-19 could result in up to 25 million people – nearly half of the country’s population, living in poverty by early next year, a United Nations report said on Friday. That ... More>>

World Vision: India’s Second Wave Shows The Global Fight Against COVID-19 Is Far From Won

As India’s COVID-19 daily infection rates reach devastating levels, international aid agency World Vision has warned that the world is nowhere near defeating this virus and some nations are yet to face their worst days. Andrew Morley, World Vision ... More>>

Focus On: UN SDGs

Study: Cut Methane Emissions To Avert Global Temperature Rise

6 May 2021 Methane emissions caused by human activity can be reduced by up to 45 per cent this decade, thus helping to keep global temperature rise to 1.5 degrees Celsius in line with the Paris Agreement on climate change, according to a UN-backed ... More>>

UN: Learning From COVID-19, Forum To Highlight Critical Role Of Science, Technology And Innovation In Global Challenges

New York, 4 May —To build on the bold innovations in science, technology and innovations that produced life-saving solutions during the COVID-19 pandemic, the UN will bring together experts to highlight measures that can broaden the development and deployment ... More>>

What COVID-19 Has Taught Us: “Healthcare Can No Longer Exist Without Technology”

A grandmother in a village in the Gambia should have the same quality of life and access to healthcare they deserve as in New York or London. Photo: InnovaRx Global Health Start-up Works To Bridge Healthcare Gap In The Gambia By: Pavithra Rao As ... More>>