EU adopts modernisation of trade defence instruments
An agreement was reached between the Commission, the Council and the European Parliament on the modernisation of the EU's trade defence instruments. The new rules will shorten the current 9 month investigation period for the imposition of provisional measures. In some cases, the EU will adapt its 'lesser duty rule' and may impose higher duties. A “shipping clause” of three weeks was agreed - subject to a revision one week up or down by delegated act depending on whether there is stockpiling or not. This will apply to cases targeting imports of unfairly subsidised or dumped products from countries where raw materials and energy prices are distorted. The deal culminates a process launched by the Commission in 2013.