E.U. steel import safeguard measures to be valid through 2021
2019-01-09 16:18:46 [Print]
It's reported that the European Union (E.U.) has decided to postpone the deadline for its steel import safeguard measures, which were introduced in July of 2018, to 16 July, 2021 in order to prevent local steel companies from suffering negative impacts brought by U.S tariff policy.
The European market has seen a sharp increase in steel supply as the U.S. started imposing an import tariff of 25% on iron and steel products from March of 2018.
According to current safeguard measures, E.U. will levy an extra tariff of 25% on the excess if the import volume of iron and steel is higher than the average value of the previous three years, including cold-rolled and hot-rolled stainless steel plate, steel used for railway and other main types of steel.
The European market has seen a sharp increase in steel supply as the U.S. started imposing an import tariff of 25% on iron and steel products from March of 2018.
According to current safeguard measures, E.U. will levy an extra tariff of 25% on the excess if the import volume of iron and steel is higher than the average value of the previous three years, including cold-rolled and hot-rolled stainless steel plate, steel used for railway and other main types of steel.
