After the US announced last week a further 178 exclusions from the steel tariffs it imposed last March, bringing the total number so far granted to 727, the European Commission has welcomed the decision, which gives exemption in total to more than half the European Union's steel exports to the US.
"This is at first sight a positive action and a signal to the world that the US realises that protectionism has a cost, in terms of higher prices for domestic users and in terms of American credibility in the WTO," said Pascal Lamy, EU trade commissioner.
By now it's quite likely that the EU will forgo the sanctions it had prepared against selected US exports, which are currently on hold until September, but the Commission said it would press on with its complaint at the WTO, in which it is joined with a number of other countries, including Japan. The WTO decision is expected in March.
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