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EU's retaliatory duty on US apparel takes effect
22
Jun '18
Courtesy: Fancycrave.com from Pexels
Courtesy: Fancycrave.com from Pexels
As part of the three-pronged response outlined by the European Commission (EC) in response to imposition of tariffs on steel and aluminium products by the US, EU’s rebalancing measures targeting a list of products worth €2.8 billion are going into effect on June 22, 2018. As a result, US goods including apparel will face an extra duty at the EU border.

By putting these duties in place, the EU is exercising its rights under the World Trade Organisation (WTO) rules, the European Commission said on its website.

“We did not want to be in this position. However, the unilateral and unjustified decision of the US to impose steel and aluminium tariffs on the EU means that we are left with no other choice. The rules of international trade, which we have developed over the years hand in hand with our American partners, cannot be violated without a reaction from our side. Our response is measured, proportionate and fully in line with WTO rules. Needless to say, if the US removes its tariffs, our measures will also be removed,” EU commissioner for trade Cecilia Malmström said.

The latest EC announcement follows the notification of the full list to the WTO and its endorsement by the College of Commissioners on June 6.

As per the list of products notified to the WTO, a 25 per cent additional duty will be imposed on t-shirts, singlets and other vests of cotton, knitted or crocheted; t-shirts, singlets and other vests of wool or fine animal hair or man-made fibres, knitted or crocheted; t-shirts, singlets and other vests of textile materials, knitted or crocheted (excl. of wool, fine animal hair, cotton or man-made fibres); men’s or boys’ trousers and breeches of cotton denim (excl. knitted or crocheted, industrial and occupational, bib and brace overalls and underpants); men’s or boys’ shorts of cotton (excl. knitted or crocheted, swimwear and underpants); men’s or boys’ trousers and breeches of synthetic fibres, industrial and occupational (excl. knitted or crocheted and bib and brace overalls); women’s or girls’ cotton denim trousers and breeches (excl. industrial and occupational, bib and brace overalls and panties); women’s or girls’ cotton shorts (excl. knitted or crocheted, panties and swimwear); and bedlinen of cotton (excl. printed, knitted or crocheted).

“The EU will rebalance bilateral trade with the US taking as a basis the value of its steel and aluminium exports affected by the US measures. Those are worth €6.4 billion. Of this amount, the EU will rebalance on €2.8 billion worth of exports immediately. The remaining rebalancing on trade valued at €3.6 billion will take place at a later stage—in three years’ time or after a positive finding in WTO dispute settlement if that should come sooner,” the release said. (RKS)

Fibre2Fashion News Desk – India


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