 |
answer text |
<p>There is no World Trade Organisation tariff on steel – each country sets its own
tariff levels as part of being a member of the WTO. The European Union’s most favoured
nation (MFN) tariffs for steel, which apply to all third country WTO members without
a preferential arrangement, are either zero or very low, and will remain so. In a
no deal scenario UK exports to the EU will face the same tariff situation as they
currently do, as the EU’s MFN tariffs for most steel products faced by third countries
are already bound at zero – meaning that there would be no tariff impact on UK steel
exports to the EU. The EU currently also apply safeguard tariffs (at 25%) on steel
imports from most third country trade partners, where they fall outside the current
tariff rate quotas, to protect the EU steel sector from unforeseen surges in imports.
It will be for the EU to decide how these safeguards should apply to the UK in the
event of a no-deal exit.</p>
|
 |
