The European Commission (EC) has introduced a new monitoring tool to protect the EU from sudden and potentially disruptive import surges. The system aims to prevent harmful trade diversions which can occur when goods that do not enter the destined markets due to high tariffs and other restrictions are subsequently diverted to the EU. By providing evidence-based information based on customs data, the surveillance tool will permit the EC to detect such import increases and take action to protect the EU market.
Manufacturers and industry associations invited to support import monitoring
To further strengthen the initiative, the EU Commission invites EU manufacturers, industry associations and member countries to review import trends available on the tool’s website and provide further market intelligence and data on the economic situation of the sector. This would further support it to identify products that may be at risk due to significant increases in imports, the EC said.
The new instrument builds on the initiative of Commission President Ursula von der Leyen to set up a task force for import monitoring. The group is tasked with addressing the challenges of trade diversion, especially after the recent turmoil in the global trading system. The work of the task force focusses on providing timely and well-founded evidence to support the EU Commission’s decision-making process. The task force earlier developed an internal dashboard that monitors all imports into the EU and uses statistical analysis to identify products that have seen a potentially harmful increase in imports. The working group will focus on the period from 1 January 2025 and will monitor imports and other indicators on an ongoing basis and publish results online.
In addition, the Commission says it is engaged in a dialogue with China to follow up on possible trade diversions and ensure that any notable developments are duly addressed.
EUWID readers can find further information on the new monitoring tool here.
The submission form for industrial companies and industry associations in the EU is available here.
