The European Commission has announced final measures on steel imports. Accordingly, a tariff-rate quota will be applicable for the period February 2, 2019 to June 30, 2019, thereafter, for the period of July 1, 2019 to June 30, 2020, and, thereafter, for the period July 1, 2020 to June 30, 2021.
The European Commission said that, since the duration of the measures is for over a year, the measures must be progressively liberalized at regular intervals during the period of application. The European Commission considers that the most appropriate way to liberalize the measures is to increase the volume of the free-of-duty quota by five percent after each year. The first liberalization will take place on July 1, 2019, with the second liberalization taking place on July 1, 2020. Subsequent liberalizations will follow the same pattern.
Meanwhile, where the relevant tariff-rate quota is exhausted, an additional duty at the rate of 25 percent will be applicable on steel imports into the EU. |
