Through Omani & Partners ‘s ongoing monitoring of trade remedy investigations and notifications from World Trade Organization Members regarding trade remedies investigations, including Anti-Dumping, Anti-Subsidy, Safeguard, and Anti-Circumvention Investigations across the Middle East, North Africa (MENA) region and globally, we are honored to present the following update:
On December 17, 2024, the European Commission initiated a review of the EU safeguard measure on steel, following a request from 13 EU Member States. This request comes in response to the challenging conditions currently facing the EU steel sector, which has been impacted by a surge in global overcapacity and a persistent decline in domestic demand for steel. The purpose of the safeguard measure is to provide temporary relief to the EU steel industry, helping it adapt to evolving market conditions and regain its competitiveness.
The Commission will conduct a detailed investigation, which is scheduled to conclude by March 31, 2025. If the Commission determines that changes to the measure are necessary, it will propose amendments to the safeguard, subject to approval by EU Member States through a qualified majority vote. Any modifications resulting from this review could take effect as of April 1, 2025. However, the duration of the safeguard measure itself will remain unchanged, remaining in force until June 30, 2026, in line with the maximum duration allowed under EU law and WTO rules.
Background
The safeguard measure was first introduced in July 2018 to protect EU steel producers from potential economic harm caused by increased steel imports, particularly in light of the US’s Section 232 trade restrictions. The measure has been extended twice, most recently in June 2024, and is set to expire on June 30, 2026, after eight years in effect, the maximum duration permitted under EU law and WTO regulations.
Industry For more information and legal advice for Trade Remedies investigations Kindly call us on +97440293059 Or Send e-mail to help-desk@omanilawfirm.com
