Vehicle industry products and components from the United States will be a focus of retaliatory tariffs imposed by the European Union because of Washington#;s controversial ‘safeguard#; duties protecting the American steel industry.
The European Commission has asked EU ministers to approve a selected range of products, where the levying of duty will cause pain to US exporters.
As well as a range of steel products, duties of 30 percent would be imposed on US-made special purpose motor vehicles if, or when the EU wins a case at the World Trade Organisation against the US duties, (probably by this autumn).
These would cover imports of vehicles such as breakdown lorries, crane lorries, fire fighting tenders, concrete-mixer lorries, road sweeper lorries, spraying lorries, mobile workshops and mobile radiological units.
Other covered lines would include iron and steel screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins and washers.
Brussels wants also to impose 100 percent duties in June on a more limited range of products, again including steel, but not otherwise affecting the auto industry.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData