The EC sent a notice listing the changes
to the World Trade Organization on May 29.
The EC initiated a second review of the existing safeguard measures
on a variety of imported steel products in February of this year. The review was initiated before the Covid-19 outbreak hit Europe and led to a demand slump and production cuts
across the continent.
The EC outlined its concerns that as well as the current demand slump and reduction in sales - which are affecting almost all steel product categories - there is also the future prospect of ‘likely strong geographical asymmetries’ in respective regional recoveries from the Covid-19 pandemic and its impacts.
“It is fundamental that the gradual resumption of activity and return to normality takes place in an orderly manner, in such a way that all participants in the EU steel market find their traditional place without undue advantages linked to the asymmetry...