The European Commission (EC) has announced the possible extension of safeguard measures applicable to imports of certain steel products, including some from Viet Nam, according to the Trade Remedies Authority of Viet Nam.
On February 1, 2019, the EC imposed a definitive safeguard measure on certain steel products. The measure currently in force consists of a tarifff rate quota, based on historical imports, applicable to 26 product categories. Where the relevant tariff-rate quota is exhausted, an additional duty of 25 per cent is levied.
The safeguard measure was imposed for an initial period of three years, until June 30, 2021.
According to the EC’s notice on February 26, the Commission received a substantiated request by 12 member states on January 15 to examine whether the current safeguard meaure should be extended.
The request contains evidence suggesting that the safeguard measure continues to be necessary to prevent or remedy serious injury. The request argues that the risk of trade diversion continues and if the measure was lifted, the industry would face a flood of imports that would have a very negative impact on its economic performance.
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