31 May 2022 – The EC today announced the results of its review of the European market protection measure Safeguard and submitted them to the WTO.
The review results in brief:
- A 4% liberalisation of tariff rate quotas from 1 July 2022
- Reallocation of product categories 7 (quarto plates) and 17 (angles, shapes and sections) from country-specific quotas to a global quota
- Changes in the categories for crowding out of traditional trade flows
- A comprehensive update of the Developing Countries and the respective product categories
Furthermore, as we expected, the EC stated that the changes to the US Section 232 Tariffs do not require any adjustments to Safeguard.
The EC’s specific rebuttals to all other claims made by interested parties that did not lead to an adjustment of the measure will be published by the EC together with the legal act.
Until when was the EU Safeguard measure extended in 2021?
In the communication to the WTO, the EC also made clear once again the current duration of the EU Safeguard measure on certain steel products:
By Commission Implementing Regulation (EU) 2021/1029 (‘the Prolongation Regulation’), the Commission prolonged the safeguard measure until 30 June 2024.
- Steel prices stable for several weeks now
- Stainless Espresso: Will the EU Safeguard measure be lifted in 2022?
- Cold-rolled stainless steel consumption to increase by more than 4% worldwide
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