The European Commission (EC) has announced that it has initiated a major review on its safeguard measure on certain steel imports to determine whether to extend the duration of the current safeguard measure on certain steel products. The safeguard measure was imposed for an initial period of three years, until June 30, 2021.
The review has been initiated following the request of 12 EU member states on extending safeguard measures on steel imports made on January 15, 2021, claiming that the safeguard measure continues to be necessary to prevent or remedy injury caused by the continuous significant import pressure from third countries. The request further provides elements pointing to the fact that global overcapacity remains at a very high level, that a large number of trade restrictive measures and trade defense measures by third countries continue to be adopted, and that there are no elements suggesting that the US will be removing its Section 232 measures on steel.
In order to obtain all relevant information deemed necessary for the investigation, interested parties have 15 days to file their views.