The European Commission has introduced protective measures on steel imports from the US. The measures are supposed to shield European steel producers following the trade diversion of steel into the European Union’s market from other producers across the globe, triggered by US actions restricting steel imports to the American market.
The measures on steel imports will reportedly enter into force since 2 February.
They will remain in place for a period of three years, including the period of the introduction of the provisional measures, expiring on 16 July 2021.
The measures are to ensure that trade diversion, stirred by the US restrictive measures, is avoided. The protective steps include tariff-rate quota by which a 25% duty will apply when the level of the traditional level of trade in steel is reached.