European Union imposes restrictions on steel imports

The European Commission issued a ruling on Friday introducing final safeguards restricting steel imports into the Community. This is a reaction to the US imposition of steel tariffs in the EU. The European steel industry considers the changes to be unfavorable.

An investigation launched in March 2018 as a result of the US decision showed a significant increase in imports of metal products to the EU. "28" was the victim of additional duties on steel and aluminum, imposed last year by the US administration.

US restrictions were imposed not only on the EU, but also on other global players, which led to a change in trade flows.

The increase in steel inflows from world markets to the EU seriously threatened European producers, whose fortunes have not been the best for several years due to global overproduction and the flooding of the EU with steel from China.

Last year, the EU decided to take temporary measures, which, however, can last up to 200 days. The regulation, released on Friday, signifies their transformation into final protective measures.

The measures concern 26 categories of metal products and include tariff quotas, above which a customs duty of 25% is applied. The quotas are set in such a way that, as the EU assures, it will fully preserve the traditional levels of imports in the EU.