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The European Commission announced on the 18th that it will implement temporary safeguard measures for some imported steel products
2018-07-24
The European Commission announced on the 18th that it will implement temporary safeguard measures for some imported steel products.
The safeguard measures will take effect on the 19th, but the traditional imported steel products will not be affected. Temporary safeguards cover 23 steel product categories and will take the form of tariff quotas.
Of these 23 categories of products, once the import volume exceeds the average import value of the past three years, such products will be subject to a 25% tariff. Quotas are allocated on a firstcome, first served basis.
The European Commission also stated that the above temporary safeguard measures can be implemented for up to 200 days.
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