EU's new steel safeguard measures on steel imports come into force on July 1
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Update time : 2021-06-30 18:18:07
The European Commission officially announced the rules of EU’s new three-year safeguard measures on steel imports, involving 26 categories of steel products, subject to annual reviews. The new measure will come into force on July 1, and the quota will be expanded by 3% every year.
The EU made this decision to extend the safeguard measures as it believed the EU’s financial situation is still fragile. Therefore, the European Commission notified the WTO about its proposal to extend the safeguard measures on June 11, and it was approved by its member states on June 18.
