A political agreement has been reached on the modernisation of the EU’s trade defence instruments. The agreement amends current anti-dumping and anti-subsidies regulations to prevent unfair trading practices. The purpose is to ensure free and fair trade.
The European Parliament negotiator Christofer Fjellner MEP said: "This is the first major overhaul of our trade defence instruments for over 20 years. Together with the new anti-dumping methodology, we have delivered an up-to-date system. The changes made to the trade defence instrument regulation will increase transparency and predictability in our trade defence - investigation periods will be shorter, help will be given to SMEs to make their voices heard in the process and everyone will be aware of new duties before they take final effect."
“The agreement is the final step towards reforming one of the most controversial parts of EU trade policy - the trade defence instruments - and, for example, allowing smaller companies to better benefit from the EU anti-dumping measures. With the new components, we will be able to better prevent unfair trading practices in our markets, increase transparency within the processes and strengthen our social and environmental standards”, continued EPP Group International Trade Spokeswoman Godelieve Quisthoudt-Rowohl MEP.
"I expect the European Commission to apply the new powers in a wise and proportionate way. Trade defence instruments must never become a tool for protectionism", concluded Fjellner.