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Kallanish Steel Weekly: EU confirms safeguard measures, Turkey concerned by increasing imports

Kallanish Steel Weekly: EU confirms safeguard measures, Turkey concerned by increasing imports (June 6, 2023)

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The European Commission issued a statement to the WTO at the end of last week confirming the decision to extend the safeguard measures in place until the end of June 2024.
A review of the measures was initiated at the end of 2022.
After careful consideration, the EC noted that justification for the safeguard measures continue to exist in the market (such as the section 232 in the US) and added that the gloomy outlook for the European steel sector did not justify a termination of the measures.
From July 2023 the level of available tariff-free quotas for importers will increase a further 4%, continuing the original liberalisation rate of the safeguard measures of 4%.

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