The European Commission has announced provisional safeguard measures on the imports of steel products.
These measures will address the diversion of steel from other countries in the EU market as a result of the recent US tariffs and will come into effect on Thursday 19 July.
The provisional measures impact 23 steel product categories and will take the form of a Tariff Rate Quota (TRQ).
For each of the categories, tariffs of 25% will only be imposed once imports exceed the average of imports over the previous three years.
Commissioner for Trade Cecilia Malmström said: “The US tariffs on steel products are causing trade diversion, which may result in serious harm to EU steelmakers and workers in this industry. We are left with no other choice than to introduce provisional safeguard measures to protect our domestic industry against a surge of imports.”
She added that these measures will ensure that the EU market remains open and will maintain traditional trade flows.
The quota will be allocated on a first come, first served basis and not by individual exporting country. However, the measures are imposed against all countries except for some developing countries with limited exports to the EU.
Due to the close links between the EU and the European Economic Area (EEA) countries, Norway, Iceland, and Liechtenstein have also been excluded from the measures.
These safeguard measures can remain in place for a maximum of 200 days.