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Home -> Finance -> Full Story
Steel tariff row: US mum on EU compensation demand
Wednesday, March 20 2002 14:41 Hrs (IST)

Geneva: The US declined to commit itself to the European Union (EU) demands for compensation over controversial US tariffs on steel imports at initial closed-door talks on March 20, diplomatic sources said.

The US "did not commit, even in principle, to pay" compensation but did not reject it either, a source said speaking on condition of anonymity.

The consultations, held at the EU council offices in Geneva, lasted about two hours and took place 24 hours before the US measures are due to take effect.

Both delegations left at the end of the meeting without commenting to waiting reporters.

However, the US asked the EU for more information on its request for compensation of up to 2.5 billion Euros, the source said.

No further talks are as yet scheduled.

Brussels and other countries among the 144-member World Trade Organisation (WTO) reject the US safeguard measures, which will see tariffs of between eight and 30 per cent on some steel imports from March 21.

The US delegation led by Florizell Liser, the Washington-based assistant US trade representative for industry, also held talks here with Brazil on the same matter later in the day.

Washington has said that the temporary measures, which it announced on March 5, are permissible under WTO rules and are necessary to protect ailing US steel mills and their workers.

The measures do not affect Canada, Mexico, Israel and Jordan, which have free-trade agreements with Washington and some developing countries are also exempt.







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