The European Union is considering further limiting quotas on steel imports to protect its domestic steelmakers, following the US decision to impose 25 percent additional tariffs on steel imports from all countries without exceptions and exemptions, according to Reuters.
Leopoldo Rubinacci, deputy director-general for trade at the European Commission, stated that a review of the safeguard measures had begun, and it is planned to conclude it by the end of March this year. Mr. Rubinacci also added that the European Commission will explore the option to extend the safeguard measures or to adopt an alternative mechanism after mid-2026.
Under the World Trade Organization (WTO) rules, the safeguard measures can only be applied for a period of a maximum of eight years. In this case, the EU's measures will expire during US President Donald Trump's second term in mid-2026.
In 2018, the EU had introduced a quota system per quarter and country to prevent a flood of steel products from entering the region and damaging the domestic industry.
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