Well-designed and enforceable international rules that reflect present realities are critical to tackle the root causes of distorted and unfair competition. EUROFER considers that a rules-based multilateral trade regime benefits all economies. However, the modernisation of the WTO is necessary to address competing economic and political systems.
EUROFER supports the EU ambition to modernize and make the WTO more effective by introducing more transparency, new rules and disciplines and enforcement mechanisms, particularly on industrial subsidies.
Brussels, 22 November 2019 – The EU has launched a WTO challenge against Indonesian export restrictions on the raw materials used in stainless steel production. The European Steel Association (EUROFER) welcomes the announcement by the European Commission that they are taking Indonesia to the WTO in order to protest against the distortive effects of these measures.
Tokyo, October 31, 2019 – Sixteen steel industry associations on five continents today praised the agreement by a “large majority of members of the Global Forum on Steel Excess Capacity (GFSEC)” to “continue the Forum’s work on the issue of steel excess capacity,” and called upon the few dissenting members to reconsider their current position as quickly as possible. Their comments were made at the conclusion of working group and ministerial meetings of the GFSEC in Tokyo last week.
AEGIS Europe preliminary analysis and position.