EU Tightens Steel Safeguard in Response to Overcapacity, Trade Defense Measures
The European Commission on March 25 lowered the liberalization rate for its steel safeguard measure from 1% to 0.1%, reducing the amount of steel that can be imported into the EU without tariffs.
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The commission also said countries won't be able to use the entire volumes of unused quotas of other countries, including from Russia and Belarus, and that the "carry-over" mechanism, which lets countries roll over unused quotas to the next quarter, has also been "eliminated for categories with high import pressure and low consumption."
The commission said the moves are a response to global overcapacity, especially from China, and increasing trade barriers in key markets "like the US."
Most of the adjustments will come into effect on April 1, while the slowed liberalization rate and removal of the carry-over of unused volumes in certain categories will enter into force on July 1. The amendments to the safeguard measure don't change the measure's legal lapse date of June 30, 2026.