The European Commission published a regulation imposing definitive safeguard measures on imports of steel products in the European Union (EU). These measures take effect on February 2, and replace the provisional ones in place since July 2018.
The measures concern 26 steel product categories and consist of tariff-rate quotas above which a duty of 25% will apply. The tariff rate quotas fully preserve the traditional levels of imports into the EU and will be increased progressively.
This system is similar to the provisional measures currently in place, with some important modifications that minimise trade disruptions and preserve traditional trade arrangements in terms of quantities and origins. For example, the main supplying countries will benefit from individual quotas based on their own historical imports.
The measures should remain in place for a period up to three years, but can be reviewed in case of changed circumstances.