New investigation into EU steel safeguard measures.

Thu, December 19, 2024
0.5 minute read

The European Commission has announced a new investigation into the revision of its safeguard measures on steel. This inquiry was requested by thirteen EU Member States. The measures in question involve tariff-rate quotas, which allow goods to be imported with reduced or no duties up to a specified limit. These quotas are divided into 26 categories based on historical trade flows. Once the quota is exceeded, imports are subject to a 25% tariff.

New investigation into EU steel safeguard measures.

Originally introduced in 2019, these measures have been extended until 30 June 2026. However, changing global conditions have prompted the Commission to consider a review. Specifically, the investigation addresses a decline in steel demand within the EU, which has widened the gap between import volumes and tariff quotas. Additionally, a shift in the sales market for Chinese steel has resulted in more imports into Europe from other regions.

The primary goal of the assessment is to determine whether an adjustment is necessary to maintain the effectiveness of the safeguard measures. The examination includes the following aspects:

Allocation and management of tariff quotas
Displacement of traditional trade flows
Update of the list of WTO countries not covered by the measures
The degree of liberalisation
Other changes in circumstances that justify an adjustment of the tariff quotas

The Commission takes into account the various interests. Stakeholders are therefore invited to make their views clear and provide supporting evidence to the Commission. In addition, steel producers and users are invited to complete this questionnaire by 10 January of the coming year. The investigation will conclude by 31 March 2025, with any potential changes taking effect from 1 April 2025.

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