The European Commission (EC) says it is starting a fresh review of existing steel safeguard measures. The review will be concluded by June 2022 and aims at ensuring measures are still “adapted to market evolution and in line with the interest of all stakeholders”.
In the review, the Commission will look into a number of factors, including allocations of quotas and the current, 3% level of annual liberalisation of the safeguard quotas.
The review will also focus on the new trade agreement between the EU and the US for steel products. “The Commission will examine whether any changes to the US Section 232 measures have a significant impact on the unduly diverted trade flows generated by the US Section 232 measures,” the EC explains.
Additionally, the review will look into the existing exclusion from safeguard measures of certain developing economies. According to the measures in place, WTO developing countries are excluded from the measures, unless their import share for a specific product reaches 3%.
“In the review investigation, the Commission will thus review whether imports from a developing WTO Member exceeded the 3% threshold in the relevant period (namely, the year 2021) and, if needed, update the list of developing countries that are WTO Members and that should be included in, or excluded from, the scope of the measure,” the EC adds.
Vietnamese hot-dip galvanized coil, for example, could well be added to the list of products impacted by safeguard measures, sources tell Kallanish.
Emanuele Norsa Italy