Speaking during a visit to a Belgian steel mill last week, European Union Trade Commissioner Pascal Lamy promised the EU's steel industry that the 15 nation bloc will protect it against the adverse impact of 30% US import tariffs on steel products.
During a tour of the Sidmar foundry - a subsidiary of the world's largest steel producer, Luxembourg-based Arcelor - the Trade Commissioner likened the European Union to 'a shield...a powerful trading bloc that can take counter-measures'.
According to the President of Arcelor, Guy Dolle, the Ghent-based plant - and indeed the entire Arcelor group - has been hard hit by the 'protectionist' measures introduced by the United States earlier this year.
'All exports to the United States by Sidmar...have ceased since last March,' he told journalists, explaining that: 'With the 30% tariff increases, we are not exporting there for the time being.'
Meanwhile, it emerged at the weekend that Poland has become the latest in a string of disgruntled US trading partners to consider increasing its own tariffs on imported steel in order to counter the effects of the US move.
'The government is to decide in the coming days on the introduction of quotas and taxes on imported steel,' Economy Minister, Jacek Piechota told the PAP news agency on Saturday.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment