Today, the European Commission published a regulation imposing definitive safeguard measures on imports of steel products. The measures will take effect tomorrow, 2 February, and will replace the provisional ones of July 2018 put in place as part of the European Union's response to the decision by the United States to impose tariffs on steel products, a measure that causes a diversion of trade flows into the EU...
The Commission investigation showed that imports of steel products into the EU have been increasing sharply, which seriously threatens EU steelmakers. The definitive safeguard measures published today have been carefully shaped to preserve a continued flow of imports that guarantees effective competition in the European steel market and sufficient choice for the numerous EU users of steel. They are also in full compliance with the WTO rules. The measures concern 26 steel product categories and consist of tariff-rate quotas above which a duty of 25% will apply. The main supplying countries will benefit from individual quotas based on their own historical imports. For more information please see the full press release and the text of the regulation.
