On February 9, 2024, the European Commission announced the launch of a review of safeguards for Steel Products to assess whether the safeguards currently in place for certain steel products should be extended beyond their expiry date on June 30, 2024. This case involves the EU CN (Common Nomenclature) code 7208 10 00, 7209 15 00, 7209 16 10, 7210 20 00, 7210 70 80, 7209 18 99, 7208 51 20, 7219 11 00, 7219 31 00, 7214 30 00, 7214 20 00, 7222 11 11, 7221 00 10, 7216 31 10, 7301 10 00, 7306 30 41, 7306 61 10, 7304 11 Steel products under 00, 7304 51 12, 7305 11 00, 7306 11 10 and 7217 10 10.
On March 26, 2018, the European Commission launched a safeguard investigation into imported steel products. On January 4, 2019, the WTO Committee on Safeguard Measures issued the final notification on Safeguard measures submitted by the EU delegation on January 2, 2019, deciding to impose a 25% safeguard tax on imports of steel products outside the quota by February 4, 2019. On February 26, 2021, the European Commission launched a review of steel product safeguards. On June 11, 2021, the WTO Safeguard Committee issued a notification of safeguard measures submitted to it by the EU delegation, and the European Commission issued a notice saying that the review of safeguard measures for imported steel products was final, and that from July 1, 2021, safeguards for products involved in the case would continue to be implemented for a period of three years in the form of quotas. That is, a 25% safeguard tax will be imposed on imported steel products outside the quota, and the annual quota will be increased by 3%. The measure is valid until June 30, 2024.
