THE European Commission has notified the World Trade Organization of its intent to extend steel safeguards that were introduced in summer 2018 to July 16 2021
THE European Commission has notified the World Trade Organization of its intent to extend steel safeguards that were introduced in summer 2018 to July 16 2021. The European Union plans to impose definitive safeguard measures on steel imports to replace provisional measures implemented in July, as imports of the metal into the bloc continue to sour after the US launched global trade tariffs in March, American Shipper reported.
Set to remain in place through mid-July 16 2021, the measures will consist of a tariff-rate quota by which steel imports will see a 25 per cent duty when the level of traditional trade flows is reached, the EU said.
However, the measures can be 'reviewed in case of changed circumstances,' the EU added.
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