Set to remain in place through July 16, 2021, the measures will consist of a tariff-rate quota by which steel imports will see a 25 percent 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 said.
The definitive measures would replace provisional measures that have a maximum period of 200 days and could enter into force in the beginning of February, if EU member countries approve of the measures during a scheduled mid-January vote, the announcement says.
The European Commission on Friday notified the World Trade Organization (WTO) of the findings of its safeguard investigation on certain steel products, which started in March, the announcement says.
The investigation showed that EU imports of steel products significantly increased in recent years and that imports will likely further rise.
The measures will apply to imports from all countries, including 26 product categories, and will ensure that diversion of steel exports from the U.S. to EU market will be avoided, the EU said.
“The commission intends to make its final decision after consultation with member states and before the provisional measures lapse” on Feb. 4, the announcement says.