Steel exports from Taiwan could be affected by 25-percent tariffs to be imposed by the European Union on February 2 in retaliation against US tariffs. While 530,000 tonnes of Taiwanese steel products are included in a national quota which should not be affected, a further 350,000 tonnes located outside the quota could fall under the new tariffs
Due to Taiwan’s rising steel exports, the likelihood of its products falling under the tariffs has increased. The EU was Taiwan’s second-biggest export market for steel last year, following the Association of Southeast Asian Nations, for a value of USD1.4 billion, amounting to 1.39 million tonnes and to a market share for similar steel products of 12%.
Source : TAIWAN NEWS
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