EU protects internal steel market

On January 4, 2019, the European Commission decided to extend the period of validity of duties on imported steel. The introduction of duties by the EU in July 2018 was a reaction to the anti-dumping strategy of the US government: in June, Washington imposed taxes on foreign steel and aluminum at a rate of 25% - 10%.

The global situation adversely affected the metallurgical industry in Europe, because it is already in an unstable state due to an increase in the import of products from foreign competitors.

The European Commissioners have proposed to maintain the current tariffs duties until mid-2021, as reported by the WTO, which opposes such a policy.

Some industrial sectors in the EU, in particular the automotive industry, are also opposed to the measures under consideration. But the EU executive power is trying to convince them that traditional trade flows will not undergo significant changes and for individual countries - trading partners, the value of duties will be set on an individual basis.