EU takes safeguard measures on imported steel products

EU takes safeguard measures on imported steel products
 

On June 11, 2021, the WTO Committee on Safeguards issued the safeguards notification submitted to it by the EU delegation. The European Commission issued an announcement stating that the final ruling of the sunset review of safeguard measures for imported steel products (Certain Steel Products) will continue to implement a three-year safeguard measure in the form of quotas for the products involved in the case from July 1, 2021, that is, quotas. Imported steel products are subject to a 25% safeguard tax, and the annual quota is increased by 3%. This measure is valid until June 30, 2024.

 

On March 26, 2018, the European Commission initiated an investigation of safeguard measures against imported steel products. On July 18, 2018, the European Commission made a preliminary ruling on this case. On January 4, 2019, the WTO Committee on Safeguard Measures issued the final notification of safeguard measures submitted by the EU delegation on January 2, 2019, and decided to impose a 25% guarantee on additional imported steel products before February 4, 2019 Measure tax. The European Commission conducted the first review of this safeguard case on May 17, 2019, and made a final ruling on this case on September 26, 2019. On February 26, 2021, the World Trade Organization (WTO) Committee on Safeguards issued a notice that the EU delegation submitted a safeguard investigation to it on February 26, 2021. On February 26, 2021, the European Commission initiated an investigation into the sunset review of safeguard measures for steel products.