Press Release: EU responds firmly to US decision to severely restrict steel imports from rest of world

The EU deplored on 5 March 2002 President Bush's decision to severely restrict the US market to steel imports from the rest of the world. On hearing the news, EU Trade Commissioner Pascal Lamy said: 'The US decision to go down the route of protectionism is a major setback for the world trading system. Imports are not the cause of US difficulties and the measures announced today will not only not provide a solution but aggravate matters. I fear today's short-sighted move will end any hope of finding an internationally agreed solution at the OECD to overcapacity problems faced by the world steel industry, and will not rein in global subsidies. The EU will of course launch an immediate complaint in Geneva against this clear violation of WTO rules and we will take whatever measures are necessary to safeguard our own market.'