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EU Safeguard Measure is expected to be reassessed

It was reported on February 9 that the European Commission announced that it would consider extending the EU Safeguard on certain steel products upon the request of 14 EU countries.

EU Safeguard Measure is expected to be reassessed

The European Commission has revealed that the EU Safeguard Measure on certain steel products, which is due to expire in mid-2024, will be under review for a possible extension following persistent requests from 14 EU Member States.

Reportedly, the measure is likely to be extended to 8 years, the longest possible period, in line with the World Trade Organization (WTO). Sources indicated that with the approach of important deadlines to actively participate in the EU Safeguard Review, work has intensified in the Market Protection department of the Directorate General for Trade.

In a related matter, it was reported last week that the newly formed Steel Alliance, Stahlallianz, representing 11 steel producing regions of Germany, which aims to advance decarbonization efforts and extend protective quotas on steel imports, has requested an extension of the steel import quota until 2026.

For related article; https://www.steelradar.com/en/haber/new-alliance-of-the-german-steel-industry-expects-the-steel-import-quota-to-be-extended-to-2026/

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