The European Commission has launched a new review of the safeguard measures applicable to imports of certain steel products. The first review had been opened on May 17, 2019, and was closed on September 16 of the same year, introducing a reduction in the pace of the progressive increase in import quotas, from five percent to three percent annually. The second review, explains the notice published in the Official Journal of the European Union, aims to "take account of possible developments and changed circumstances before the end of the second year of imposition of measures". The safeguard has been in force since January 31, 2019.
The commission will carry out the review following the structure used in the framework of the previous review. In particular, it will investigate the use of the tariff-rate quota since the entry into force of the last changes resulting from the first review and the comments made by the parties in that respect. On that basis, it will determine whether any adjustment resulting from changed circumstances is warranted. The commission will also update the list of developing WTO member countries excluded from the scope of the measures based on their most recent level of imports.
The review will be concluded before June 30, 2020, if possible, "in order to avoid any uncertainty and undue disruption of the steel safeguard system currently in place," said the commission.