The European Union will further limit the volume of duty-free steel imports from Wednesday, the European Commission (EC) said.
The new rules provide for a reduction in these volumes by 47%, to 18.3 million tons per year, and do not apply to countries of the European Economic Area (EEA). Imports of 26 categories of steel products in excess of the quota will be subject to a duty of 50%.
Half of the quota is allocated to countries that have concluded free trade agreements (FTAs) with the EU, the other half applies to all trading partners, in particular parties to the FTA. During the first half, there will be individual quotas for partner countries with an average share of at least 5% in import volumes in 2022-2024 - they will be proportional to their historical volumes. notes that it is taking new measures to protect the European steel industry in the face of a global overcapacity and many countries closing their markets to imports, often with the help of customs.
The European Union will further limit the volume of duty-free steel imports from Wednesday, the European Commission (EC) said.
New rules provide for a reductionan increase in these volumes by 47%, to 18.3 million tons per year, and does not apply to the countries of the European Economic Area (EEC). Imports of 26 categories of steel products in excess of the quota will be subject to a duty of 50%.
Half of the quota is allocated to countries that have concluded free trade agreements (FTAs) with the EU, the other half applies to all trading partners, in particular parties to the FTA. During the first half, there will be individual quotas for partner countries with an average share of at least 5% in import volumes in 2022-2024 - they will be proportional to their historical volumes. notes that it is taking new measures to protect the European steel industry in the face of global overcapacity and many countries closing their markets to imports, often through customs.
