1st LD: EU opens safeguard investigation into steel imports

BRUSSELS, March 26 (Xinhua) -- The European Commission opened on Monday a safeguard investigation on imports of a number of steel products into the European Union, in response to recent United States metal tariffs.

The investigation concerns products of all origin, said the Commission in a statement, adding that the procedure can result in imposition of import tariffs or quotas that would shield EU producers from "excessive imports" if necessary.

The Commission said imports of certain steel products have been increasing, and may be even stronger now that the access to the U.S. market has been limited and steel products from other parts of the world previously destined to the U.S. may be redirected to Europe.

The investigation covering 27 steel product categories will in principle be concluded within nine months. But should provisional measures prove necessary, they can be adopted at short notice. The Commission continues to further examine the market situation and is prepared to react as appropriate.

The Commission said investigation procedure follows strictly multilateral rules in trade defence tools recognised by the World Trade Organisation. Enditem