EC adjusts safeguard measures on steel product imports

The European Commission (EC) has made a number of changes to its existing regime of safeguard measures concerning 26 steel product categories, it said on September 26.

The changes will come into force on October 1 this year. The definitive safeguard mechanism already in place increases the level of tariff-free quotas for each product category by 5% annually. The first such liberalization took place on July 1, 2019, which was the end of the first quota period. Starting from October 1 this year, the quota will be increased by only 3% each year. The definitive safeguard measures applied to a list of imported steel products, in the form of 25% tariff rates and a range of quotas that are partly annual and country-specific and partly quarterly and global. These took effect in February this year and were set to remain in place for a period of three years. The EC initiated a review of these measures on May 17 this year, however. Category 1 – hot-rolled flat steel The EC decided to set a limit of 30% of the overall total for...

Published

Maria Tanatar

September 30, 2019

14:45 GMT

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