The US has announced safeguard measures in the form of additional duties on imports of certain steel and aluminum products into the US. At the moment the implementation of these additional duties for products from the EU is postponed until June 1st 2018. As a counter measure, last week the EU published a commission implementing regulation: (EU) 2018/724. This regulation indicates that the EU can impose additional duties on certain products originating in the US, in case the US implements the additional duties on certain steel and aluminum products. Following the regulation, the additional duties can be applicable as soon as June 20th 2018.
The regulation states that the additional customs duties are to be applied in two stages:
- Ad valorem duties of a maximum rate of 25% on imports of the products listed in Annex I to the regulation, may be applied immediately and until the United States ceases to apply its safeguard measures on products from the EU. Please find below a list of chapters from the Combined Nomenclature (CN) that are affected, this includes amongst others, food products, whiskey, tobacco products, T-shirt, footwear, steel, aluminium, etc.
Further ad valorem duties of a maximum rate of 10%, 25%, 35% and 50%on imports of the products listed in Annex II to the regulation, may be applied at a later stage, most likely as from 23 March 2021. Please find below a list of chapters from the CN that are affected.
Although it is very uncertain what the future may bring and even more difficult to predict what Trump will do next, we advise companies to have a closer look at the annexes to this regulation now, to assess whether these potential additional import duties can have any consequences for their imports of US originating products into the EU. Since, especially the additional duties to be levied on products included in the first stage can be implemented on short notice in case Trump decides to no longer postpone the additional duties on certainEU steel and aluminum products into the US. We advise companies to also discuss and/or take into account these potential additional duties for example when agreeing prices with potential buyers of their products.
If you have any questions regarding the above or require any assistance with verifying what these changes mean for your company and what steps can be taken, please do not hesitate to contact Claudia Buysing Damsté (email@example.com / +31 (0)88 792 3811), André Stoop (firstname.lastname@example.org / +31 (0)88 792 3809) or Suzanne Bras (email@example.com / +31 (0)88 792 4267).
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