European Commission initiates review of safeguard measure on steel products

07/12/2022 08:34 - 41 Views

On December 2, 2022, the European Commission initiated a review of the safeguard measure on steel products to determine whether to terminate this measure a year earlier than its scheduled end date of June 30, 2024.

EU steel producers and users have been invited to fill in questionnaires for the investigation, and interested parties could submit their arguments by mid-January 2023. The European Commission will make a proposal before June 30, 2023, at the latest on whether the steel safeguard measure should be ended.

The steel safeguard measure was originally introduced in 2019 as a direct response to US’ Section 232 tariffs. The European Commission said that US Section 232 tariffs led to trading diversion into the EU and injured the EU steel industry.

Source: Yieh Corp