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EMEA Trade Report

7/2/2018
 

Europe

 
EU likely to impose safeguard measures on steel imports by mid-July
The provisional measures could take the form of import tariffs or quotas. They would be part of an investigation launched in March to determine whether, following the U.S. imposition of restrictions on imports of steel and aluminium, those products were being diverted to the EU and disrupting its market.

[Euractiv]
 
Juncker may meet Trump in attempt to resolve trade issues
“According to media reports on Tuesday, EU officials stated Trump invited Juncker for trade discussions a week earlier, but the prospect of talks was still only being considered.”

[Breaking the News]
 
EU to respond to any U.S. auto tariff move
“Trump told carmakers at a meeting in the White House on May 11 that he was planning to impose tariffs of 20 or 25% on some imported vehicles and sharply criticized Germany’s automotive trade surplus with the United States.”

[Euractiv]
 
 

Middle East

 
Turkey and EFTA to enlarge free trade agreement
“The first FTA, which covers trade in industrial products, fish and marine products, and processed agricultural products between Turkey and EFTA countries, was signed in 1991, according to the EFTA's website. [Turkish Economy Minister Nihat] Zeybekci said that the revised FTA would also cover trade in services and electronics and intellectual property.”
[Anadolu Agency]
 
Turkey imposes retaliatory tariffs against U.S.
“Turkey has now imposed a 70 percent additional tariff on bourbon, while the previously planned rate was 40 percent. Likewise, the additional tariff on U.S. cars has also been hiked to 60 percent from a previous 35 percent. In some products the additional tariffs were lowered, such as PVC products and petroleum coke product imports.”

[Hurriyet Daily News]
 
New logistics hub to be developed in Egypt
A leading global logistic provider will “develop a hub with international standard logistics infrastructure to enhance the importing and warehousing of raw materials, as well as the export and distribution of intermediate and final goods through the Suez Canal Ports.‚Äč The logistics hub is part of the current expansion of East Port Said.”

[Zawya]
 
 

Africa

 
Algeria parliament backs higher customs duties in place of import ban
“At the start of this year Algeria banned the import of 851 products, including mobile phones, home appliances and some foodstuffs, but the measure had little impact on imports, which have mostly continued in defiance of the ban.” Instead, “Algeria’s lower house of parliament approved on Monday a government plan to [replace the ban] … with customs duties of between 30 and 200 percent.

[Reuters]