July 5, 2018 / 1:38 PM / 3 months ago

EU countries back measures to limit steel imports

BRUSSELS, July 5 (Reuters) - European Union countries voted on Thursday in favour of provisional measures proposed by the European Commission to curb steel imports into the bloc, a Commission spokesman said.

The Commission has proposed a combination of a quota and a tariff to prevent a surge of steel imports, notably since the United States imposed levies on incoming steel and aluminium.

“This is intended to prevent the negative effects of trade diversion, but at the same time maintain traditional supply and effective competition on the EU market,” the spokesman said.

The quota would be a reflection of imports over recent years, with a 25 percent tariff set for volumes exceeding that amount, according to sources familiar with the proposal.

Reporting by Philip Blenkinsop

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