On May 30, 2022, the WTO Committee on Safeguards published the Safeguard Notice submitted to it by the EU delegation on May 26, 2022. The EU announced that it will make a ruling on the review of the safeguard measures for imported steel products (Certain Steel Products) before July 1. The notice announced the initial adjustment of the number of quotas and the way of apportionment, and the annual increase rate of quotas will be increased from 3% to 4%. The review decision will take effect on July 1, 2022 and will be valid until June 30, 2024. The case involved 26 categories of steel products.
On March 26, 2018, the European Commission launched a safeguard measure investigation on imported steel products. On January 31, 2019, the EU imposed a 25% safeguard duty on steel products imported out of quota. On December 17, 2021, the European Commission launched the fifth round of review investigation on the safeguard measures case for imported steel products.
Just like you, 70% customers choose long-term cooperation with BBN steel not only for our good product and service quality, good reputation in the international market, but also for our experienced one-stop raw material supply and further steel processing!