EU plans to revise tariffs on steel imports to prevent oversupply

As the EU economy recovers from the impact of the pandemic, the EU plans to revise its steel import restrictions to prevent major market distortions. The proposed changes to the EU import restrictions introduced two years ago are aimed at preventing the transfer of global steel supplies to Europe and a significant surplus of European steel supplies due to a 25 per cent tariff imposed by the United States on imported steel. EU “safeguards” involve a 25 per cent tariff on 26 types of steel imported by the EU that transport more than a three-year average, including hot-rolled stainless steel, cold-rolled sheets to rebar and railway materials.

Post time: Jun-09-2020