European Commission to approve steel import safeguards
11 Sep 2019 17:33 reported by Blanca
Recently, the European Commission reduced the growth rate of import quotas to 3% according to the August review. After the EU government approved the revised measures, the quarterly import share of specific products in any country was limited to 30%.
The industry complained that the market was weakening and cannot absorb the increase in import quotas. The related countries, such as Ireland, the Netherlands, Sweden and Lithuania, voted against the proposal on the grounds that the proposal was too restrictive.
These countries required the European Commission to pay close attention to the market in order to further relax restrictions when necessary. It was expected that the Commission will sign a document on steel import safeguards in the coming days without any further changes.
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