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Kallanish Kallanish

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June, 20th 2019

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JAN 07
14:55

EC notifies WTO on permanent safeguard measures proposal

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The European Commission has notified the World Trade Organisation of its findings related to the ongoing investigation on safeguard measures, finally making public the draft anticipated by Kallanish. A vote by EU member states is now expected to ratify the proposal in mid-January, while WTO members have the opportunity to also comment on this.

As anticipated, the system confirms the provisional measures in place, adding the variant of the country-based quotas as well as the quarterly calculation (see Kallanish passim). “This system is similar to the provisional measures currently in place, with some variances in order to preserve traditional trade flows. For example, the main supplying countries will benefit from individual quotas based on their own historical imports,” the EC explains.

The permanent measures, if confirmed by EU member states, will be in place from the beginning of February until mid-July 2021. “The measures can be reviewed in case of changed circumstances,” the EC comments, suggesting that a decision by the US to cancel tariffs could possibly make the EU cancel its safeguard system.

All WTO members can hold consultations with the EU on this issue, and the complete proposal. The full list of quotas for each product is available on the public WTO website, at this link.