21 May 2018 EU counters US safeguard measures with possible imposition of significant import duties on various US products The European Commission (the Commission) issued Commission Implementing Regulation (EU) 2018/724 on May 17, allowing the European Union (EU) to suspend the World Trade Organization (WTO) concessions on import tariffs for imports of certain US goods. Should the US apply import duty safeguard measures against imports of EU goods into the US, the Commission will apply additional ad valorem customs duties as of June 20 on the import of various US goods into the EU. This first stage of duties will apply at a rate of 25% and are imposed on the imports of goods from the US with CN Codes listed in Annex 1 of the Regulation. From March 23, 2021, the second stage of ad valorem duties may apply on the products in Annex II, ranging from 10% to a maximum of 50%. Document ID: 2018-1065 |
