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Modifies of steel safeguard measures

In this issue:

Starting with 1 October 2019, definitive safeguard measures imposed against steel products imports in the EU will be modified.

On 27 September 2019 the European Commission has published the amendments brought to the Regulation related to the definitive steel safeguard measures upon imports of steel products in the EU. The changes will take effect as of 1 October 2019.

Among the most important amendments, we mention:

·        For product category 1 (hot rolled sheets and strips of non-alloy or other alloy steels), no country is allowed to use more than 30% of the tariff quota available in each quarter.

·        In order to benefit from the tariff quota, steel products that fall into category 4B (sheets with metallic coatings) are subject to the  end-use regime for proving that they are used for the manufacture of vehicle parts.

·        For product categories 13 and 16, no exporting country is allowed to use, on its own, more than 30% of the residual tariff-rate quota of the last quarter of each year of application of measures.

·        The unused volumes of country-specific tariff-rate quotas in product category 25 (welded pipes) will be allocated to the residual tariff-rate quota upon 1 October  2019.

 

How does the above influence the activity of your company?

If you import steel products in the EU, the rules related to application of the tariff quotas have changed. To avoid payment of the 25% import duty we recommend you to further analyze the new provisions.

 

Prepared by:
Mihai Petre - Director, Indirect Tax

 

For additional information, please contact:
Alex Milcev - Partner, Head of Tax & Legal

 

Ernst & Young SRL

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