In the latest development in the ongoing trade tensions with the EU, on April 6, 2020, the EU issued its “Implementing Regulation EU 2020/502,” introducing additional duties on certain products originating in the United States. This retaliatory measure comes as a response to the U.S.’s recent increase in tariffs on imports of specific derivative aluminum and steel products, which President Trump signed into law in late January. The EU will implement its new levies in two phases: Phase 1 will set an increase by 20% on certain cigarette lighters and 7% on various furniture fittings (valued at over $20 million) on May 8, and Phase 2 will introduce an additional 4.4% duty on playing cards (valued at nearly $23 million) on February 8, 2023, or when the WTO Dispute Settlement Body adopts a ruling that Section 232 measures are inconsistent with WTO rules, whichever date arrives first.
For more information on how these could impact your business, contact:
- Martin Lutz, Partner (email@example.com, 512-495-6024),
- Lindsey Roskopf, Attorney (firstname.lastname@example.org, 713-615-8534), or
- Another member of the McGinnis Lochridge International Trade and Transactions Practice Group