Photo: European Union
The Council adopted today its position on the regulation modernising the EU's trade defence instruments, following the political agreement reached with the EP in December 2017. This step clears the way for the final adoption of the text by the Parliament in the coming weeks.
The regulation amends the existing legal framework which allows higher tariffs to be imposed on dumped or subsidised imports in order to improve the protection of EU producers from damage caused by unfair competition. The new regulation makes EU trade defence instruments more predictable, transparent and accessible, in particular for small and medium-sized enterprises (SMEs).
“The adoption of these new trade defence instruments is particularly timely. In the face of protectionist pressures and growing threats to the values and principles of the rules-based trading system, it is all the more important for the EU to have the right tools, whilst at the same time supporting free and fair trade."
Emil Karanikolov, the minister responsible for trade matters of Bulgaria
Read the full press release here.
Visit the meeting the page on the website of the Council of the European Union.