The EU Commission intends to propose additional measures against imports from China. Commission President Ursula von der Leyen announced this following the EU summit on October 16. Reuters reported on this the same day.
French President Emmanuel Macron named chemicals, plastics, and ferroalloys as sectors the EU should focus on. Ferroalloys are metal mixtures used, among other applications, in steel production. These represent possible focal points; however, the report does not substantiate a new blanket tariff on these goods. (Source: Reuters via StreetInsider)
Additionally, von der Leyen discussed an instrument that could expedite limiting access to the EU internal market. For December, she announced a proposal to address dependency on individual sources for critical supplies. These initiatives must be carefully distinguished from one another.
For customs brokers and importers, preparation is therefore advisable at this time. Which tariff classifications and Chinese origin goods affect your own product range? Which shipments have already been ordered? Where do contractual flexibilities exist regarding additional costs? Actual customs declarations may only be modified based on legally applicable regulations in force. For any possible new restrictions, the published legal act with commodity scope, exemptions, and effective date is required. Until then, companies should model scenarios but should not incorporate speculative tariff rates into their quotations.