Argentina is exempt from payment of definitive safeguard measures introduced today on steel imports by the European Commission. Thus, market access to the European Union is guaranteed for Argentine steel exports.
The measure, imposed on most exporters to the EU — including many suppliers from developing countries —, covers imports comprising almost all of the steel sector. Thus, those steel products which are not exempt shall pay an additional 25% tariff.
"The Argentine Government is working since day one for Argentine companies to compete under the best possible conditions. Within this context, this is a especially significant achievement," Foreign Minister Faurie stated.
"Argentina has committed to make market openings and export promotion a top priority," the Secretary for International Economic Relations of the Foreign Ministry, Horacio Reyser, stated.
In March 2018, the European Commission started an investigation into the imposition of safeguard measures on almost all imports of steel products. More than 300 tariff headings were divided into 28 groups of investigated products.
The EU claimed that total imports of investigated steel products have significantly increased from 2013 to 2017 due to global circumstances such as global steel excess capacity, increase of trade defence measures imposed on these products by third countries and recent measures adopted by the United States.
During the investigation, Argentina successfully requested and asserted its right to be exempt from payment of the measures, which was later granted by the Commission.
This decision of the EU enables Argentina to continue exporting steel products to the EU, which recorded sales for EUR 188 million during 2012-2017. Laminated steel plates and hoops, metal coated sheets, tinning machine products and seamless steel pipes are among the main Argentine exports.
