EU initiates a review investigation on safeguard measures for imported steel products

On February 9, 2024, the European Commission issued a notice to initiate a review of safeguard measures for Steel Products, in order to evaluate whether the current safeguard measures for certain steel products should be extended beyond June 30, 2024. This case S650MC steel involves steel products under the EU CN (Common Nomenclature) codes 72081000, 72091500, 72091610, 72102000, 72107080, 72091899, 72085120, 72191100, 72193100, 72143000, 72142000, 72221111, 72210010, 72131000, 72163110, 73011000, 73063041, 73066110, 7304110, 73045112, 73051100, 73061110, and 72171010.

On March 26, 2018, the European S650MC steel Commission launched a safeguard investigation into imported steel products. On January 4, 2019, the Committee on Safeguards of the World Trade Organization issued a final notice on safeguard measures submitted by the EU delegation on January 2, 2019, deciding to impose a 25% safeguard tax on imported steel products outside the quota by February 4, 2019. On February 26, 2021, the European Commission launched a review investigation into safeguard measures for steel products. On June 11, 2021, the WTO Safeguards Committee issued a safeguard measures notification submitted to it by the EU delegation. The European Commission issued a notice stating that a final review of safeguard measures will be made for imported steel products. Starting from July 1, 2021, a three-year safeguard measure will continue to be implemented in the form of quotas for the products involved, with a 25% safeguard measure tax levied on steel products imported outside the quota, and an annual quota increase of 3%. This measure will be effective until June 30, 2024 S650MC steel.