European Commission Extends Steel TRQs for 3 Years

The European Union extended safeguard measures on steel imports for three years in a June 25 implementing regulation. The measures were set to expire June 30. The European Commission found that the current tariff-rate quotas on 26 steel product categories need to continue to further protect European industry. The TRQs impose a 25% tariff once the quota quantities are exceeded. The covered products include goods such as hot and cold rolled sheets, metallic sheets, stainless hot rolled quarto plates and rebar.