China's Commerce Ministry stated that safeguard measures on imported beef are temporary measures to help the domestic industry, not to restrict normal trade. If imports reach the quota threshold, a 55% safeguard tariff will be applied.
China's Commerce Ministry stated that safeguard measures on imported beef are temporary measures to help the domestic industry, not to restrict normal trade. The measures involve additional tariffs once import quotas are met.
South Korean Trade Minister Yeo Han-koo urged the EU to grant favorable treatment to Korean firms under its new, stricter steel safeguard measures set to be implemented next month. The EU's new system will halve tariff-free steel import quotas and double tariffs on excess imports, potentially impacting Korean steel, automotive, and home appliance sectors.
