The European Commission has tightened the steel safeguard measure to shield the EU steel industry from surging imports, delivering on the EU's Steel and Metals Action Plan.
The Commission has reduced the liberalisation rate from 1% to 0.1%, limiting the amount of steel that can be imported into the EU tariff-free. Additionally, countries will no longer be able to use the entire volumes of unused quotas of other countries, including those of Russia and Belarus. The "carry-over" mechanism, which allowed countries to roll over unused quotas to the next quarter, has also been eliminated for categories with high import pressure and low consumption.
The tightened measure will create breathing space for EU steel producers to increase their production and thus regain lost market share. It also aims to increase employment and investment in green steel production.
The Commission has reduced the liberalisation rate from 1% to 0.1%, limiting the amount of steel that can be imported into the EU tariff-free. Additionally, countries will no longer be able to use the entire volumes of unused quotas of other countries, including those of Russia and Belarus. The "carry-over" mechanism, which allowed countries to roll over unused quotas to the next quarter, has also been eliminated for categories with high import pressure and low consumption.
The tightened measure will create breathing space for EU steel producers to increase their production and thus regain lost market share. It also aims to increase employment and investment in green steel production.
