-0.6 C
Hamburg
Saturday, February 15, 2025
Home News EU safeguard measures with Asian countries

EU safeguard measures with Asian countries

End November, a provisional agreement on a proposal to include safeguard measures in trade agreements was reached by the EU Presidency and European Parliament representatives.

Such bilateral measures linked to trade agreements will allow for the temporary withdrawal of tariff preferences and are intended to protect a particular domestic industry from an increase in imports of any product which is causing, or which risks causing, serious injury to that industry. Such clauses are included in most trade agreements, but are not always handled in a consistent manner.

The new law will harmonise such rules for the trade deals with Japan, Vietnam, and Singapore as well as all future agreements. It clarifies that industry associations and trade unions can request a Commission investigation, which may lead to temporary safeguards if the Commission decides they are necessary.

The agreement will now be submitted for political endorsement by EU ambassadors.

For ESC, it is crucial that trade rules are predictable and follow international rules such as World Trade Organisation (WTO) Rules. These new measures are a step in this direction. Next to this, the use of safeguard measures should stay as limited as possible and to be used only if there is a risk of serious injury to industry sectors. ESC will keep a close eye on developments in this respect.

 





Latest Posts

Weekly Update: Container Shipping Stock Highlights

The container shipping market saw a dynamic week, marked by notable fluctuations in stock performance among key players. Factors such as tariffs, political tensions,...

CMA CGM revamps Bora Med Service with new calls at Syrian ports

CMA CGM’s Short Sea Lines Division announced the reshuffling of the Bora Med Service (BMS) with the inclusion of Syrian ports in the rotation. The...

AI-Generated Magic of Valentine’s Day Logistics

Welcome to a delightful gallery of AI-generated images capturing the magic of Valentine's Day logistics! From charming containers brimming with colorful candies to elegantly...

Gebrüder Weiss enhances presence in US with new Arizona facility

Gebrüder Weiss has announced the launch of a new facility in Phoenix, Arizona, as part of its ongoing expansion in the United States. This location...

DP World Sokhna completes first passenger vehicle export shipment

In a significant boost to Egypt's automotive industry, DP World has successfully managed the first-ever export shipment of passenger vehicles from Ain Sokhna Port. The...
error: Content is protected !!