The European Commission decided on 27 June 2023 to keep the European Union's steel safeguard measure in place until its expiry on 30 June 2024, rejecting an early termination. The decision followed a review, opened in December 2022, into whether the safeguard should end a year early. The Commission concluded that ending it would risk serious injury to the EU steel industry as it adjusted to higher import levels. All tariff-rate quotas under the safeguard will be increased by 4 percent from 1 July 2023, and the list of developing countries subject to or excluded from the measure was updated on the basis of 2022 import data. Imports above the quotas face a 25 percent duty. The safeguard, first imposed in 2019, covers 26 steel product categories and remains one of the main defences for European mills against import surges.
Source: European Commission — https://policy.trade.ec.europa.eu/news/no-early-termination-eu-steel-safeguard-review-concludes-2023-06-27_en
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