European Commission proposes three-year steel safeguard extension

The European Commission (EC) has notified EU member states as well as the WTO of its intention to prolong steel safeguard measures for three years beyond 30 June,Kallanish learns from a WTO document.

In its determination following the safeguard review, the Commission found evidence that the measures continue to be necessary to prevent or remedy serious injury or threat to EU steel industry.

The proposal must be voted on and confirmed by member states; it is nevertheless not expected that significant changes will be made to the final measures.

According to the EC proposal, a relaxation of tariff-free quotas of 3% annually would be implemented during the 2021-2024 period. A review of how the measure is working would be carried out before the end of June 2022.

Consultations on the proposal are set to take place between 14 and 18 June.

Emanuele Norsa Italy