EU to continue safeguard measures on steel products despite cancellation of Section 232 tariffs
Posted on 07 September 2021
The US and the EU have reached an agreement to remove the Section 232 tariffs. Most market participants believed that the revocation of US Section 232 tariffs will not impact the EU safeguard measures on imported steel products.
The EU steel safeguard measures were implemented in 2018 in response to the US Section 232 tariffs, with the purpose of resolving trade diversion issues.
Some market participants thought that there is no need for EU steel safeguard measures' existence due to the cancellation of Section 232 tariffs. In fact, it was understood that the EU will not stop implementing safeguard measures instead of adjusting some detailed regulations.