We have been receiving the first reactions to the announced extension of the EU Safeguard measures on steel since Friday.
If you missed it: The European Union had declared on Friday, June 11, 2021, to extend the existing Safeguard measures by three (3) years and to increase the import quotas by only 3.00% per year.
In the steel consuming downstream industry the biggest indignation is spreading about this political arbitrariness from Brussels. Or what else can you call it when clear facts are deliberately disregarded.
Error in the Safeguard notification?
The notification of the European Union to the WTO seems to have been published in a hurry. After the first review, we already noticed possible errors in the calculation in at least two cases.
Mixed up numbers and therefore incorrect justification
Interested parties are welcome to read this in tables 5 and 6 of the EU notification. If you compare both tables carefully, you will notice that the values from Table 5 have been transferred incorrectly to Table 6. And the values in the 2020 column have been swapped with those from 2018 and subsequently calculated incorrectly.
Update: EU must correct Safeguard mistake
Still on Monday, the European Union had to correct its error in the Safeguard calculations to the WTO. Only a few hours after we had pointed it out.
Read now: Stainless Espresso: EU must correct Safeguard mistake
What else could be wrong in the safeguard notification?
This can no longer be a mere formal error, as the incorrect calculation was included in the justification for the extension of the Safeguard measures by the EU.
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You know us! Are we wrong somewhere or have you found other errors? Do you have any questions on one of our articles or would you like to talk to us in general? Then please feel free to call us on EU/World: +49 7642 9282851 / US +1 302 803 5865 or send us an email to info@steelnews.biz. We are here and listening.
Read also:
- Stainless Espresso: Errors in the EU Safeguard justification?
- Stainless Espresso: EU extends steel safeguard measures
- Breaking News: EC wants to extend EU Safeguard Measures!
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Disclaimer: Many things here represent our opinion. Others are information from the Internet. We can therefore never claim to be correct or complete. And never base a business decision solely on the news you receive from us.
