New anti-dumping rules approved by European Parliament
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Higher tariffs can be imposed on dumped or subsidised imports to better protect EU jobs and businesses, under a December 2017 informal agreement that was approved by the Parliament on Wednesday.
The agreed measures target unfair trade practices from non-EU countries and complement the recently approved anti-dumping rules focusing on non-EU countries that interfere heavily in the economy.
Thanks to the approved agreement the EU will be able to set higher tariffs on dumped and subsidised imports; investigations into anti-dumping cases will be significantly shorter; and costs for EU industry resulting from international labour and environmental agreements will be reflected in the calculation of the duties. Apart from that a help-desk for SMEs to deal with complaints and investigative proceedings will be setup.
Trade unions will be involved in investigations and assess the duties to be imposed. It was also agreed that all products arriving into the EU will be strictly monitored from the moment when an investigation is notified until its actual start and registered to avoid stockpiling.
It was also agreed that continental shelves and economic exclusive zones (sea zones, mainly used for energy production) will also be covered by the regulations, to close loopholes.
”This long-overdue modernisation future-proofs our trade defence system. We live in tumultuous times and European workers and manufacturers are facing unfair trading practices that take many forms. We are giving our industries the right tools to protect jobs in Europe and ensure that trade takes place on a fair basis”, said Chair of the International Trade Committee, Bernd Lange (S&D, DE).
“This is the largest reform of the EU’s trade defence instruments for 23 years. We can now make sure our instruments are adapted to the modern, 21st century trading system. The EU should stand for free and rules-based trade and this is an important tool to ensure we can remain an open economy”, said EP Rapporteur Christofer Fjellner (EPP, SE).
The new law enters into force on the day after its publication in the EU Official Journal, expected in the first half of June 2018.
