News Global Market EU 851 11 January 2025
In particular, the EBA proposed to reduce the volume of tariff quotas
The European Steel Association (EUROFER) has already presented the European Commission with its first views on how to strengthen safeguard measures on steel imports as part of their current review. This was announced by Yuriy Rudyuk, partner at Van Bael & Bellis.
The association proposes to reduce tariff quotas to reflect the decline in steel demand in the bloc. EUROFER has also proposed that the duties applied to imports in excess of the quota should be increased from the current 25% to a possible 32-41%.
In addition, it is proposed to change the methods of quota allocation and set a 15 percent limit in the “other countries” category (the mechanism is already in place for imports of hot-rolled coils and wire rod).
The EBA also requests the introduction of more country-specific quotas instead of residual quotas, the abolition of carry-over from previous quarters, and the abolition of new exemptions for developing countries. Currently, the latter, which are WTO members and have small historical volumes of supplies to the bloc, are exempt from safeguard measures.
In December 2024, the European Commission initiated a functional review of the EU’s safeguard measures on imports of steel products. The review was initiated following a request from 13 member states submitted in late November. They believe that such a procedure is necessary due to changes in trade flows.
Interested parties could apply to the EC in writing by January 10, 2025, and questionnaires from the bloc’s producers were accepted until the same date.
As GMK Center reported earlier, on January 31, 2019, the European Commission imposed definitive safeguard measures on certain steel products. They were initially valid for three years and have been extended twice, most recently until June 30, 2026.
