EU Summits to Retaliate Against U.S.

European Union (EU) leaders announced that they fully support the counter measures like restricting the import of American goods and taking the dispute to WTO, which EU Council launched in relation with U.S.` safeguard against imported steel.

Leaders of 15 EU members expressed serious worries about U.S. measures at EU summit talks in Barcelona, Spain on the 15th and 16th.

Leaders said at the final statement on the 16th, “The European Council has taken note with great concern of the safeguard measures introduced by the U.S. in the steel sector. It fully supports the Commission`s intention of pursuing consultations under WTO agreements and of initiating a procedure for possible Community safeguard measures. ”

Previously, EU Council openly said that it was making a list of U.S.` exporting goods which might be badly influenced from EU`s raising customs as a counter measure against U.S.

The announcement says, “EU summits and governments agreed with that U.S.` imposing tariff is not in conformity with WTO rules, and is against the spirit of liberalizing world trade that EU agreed at Doha, Qatar last November. ”

Meanwhile, the representatives of steel producing countries in OECD like Korea and Japan met in Paris from 15th to 17th, and severely criticized U.S.` safeguard measure.

The representatives gathered to reduce surplus supply by retracting subsidies for steel industry in 40 countries, and criticized in chorus, “America is a protectionist which is protecting just his own industries. ”

Jei-Gyoon Park phark@donga.com