GCC puts safeguard tariff on some iron and steel products -WTO filing

GCC will impose a safeguard tariff of $169 per tonne on imports of certain iron and steel products from May 15

  
Steel profile pipes are pictured at the Ariel Metal steel trader warehouse in Podolsk outside Moscow, Russia February 9, 2018. Image used for illustrative purposes.

Steel profile pipes are pictured at the Ariel Metal steel trader warehouse in Podolsk outside Moscow, Russia February 9, 2018. Image used for illustrative purposes.

REUTERS/Maxim Shemetov

GENEVA- The countries of the Gulf Cooperation Council will impose a safeguard tariff of $169 per tonne on imports of certain iron and steel products from May 15, they said in a filing published by the World Trade Organization on Monday.

The three-year tariff on clad, plated or coated flat-rolled products of iron or non-alloy steel, of a width of 600 mm or more, will fall to $153/tonne in the second year and to $137/tonne in the third year.

The GCC countries said last year they were investigating the case for safeguard tariffs, which are temporary, emergency tariffs that the WTO allows if a particular industry is hit by a sudden, damaging and unforeseen surge in imports.

(Reporting by Tom Miles; editing by Jason Neely) ((tom.miles@thomsonreuters.com; +41 58 306 2006; Reuters Messaging: tom.miles.reuters.com@reuters.net))

More From Commercial