The European Commission (EC) has declared that it will hold to its schedule in assessing the US government's concessions to steel exporters through the grant of exemptions to Section 201 tariffs despite Washington's failure to meet its promise of early decisions. The EC will examine the impact of exemptions awarded up to July 19, discuss the exemptions with individual member states, and announce the terms of its retaliation "before August 1". Pascal Lamy, EC Trade Commissioner, has warned that this retaliation could amount to tariffs of more than 350m dollars obstructing US exports of farm products and textiles.
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