The European Commission (EC) officially confirmed the move to extend the existing safeguard measures on imported steel into the European Union by three years in an announcement made late afternoon on Friday June 25.
The measures imposed on 26 steel products imported into the EU will remain in place until June 30, 2024, with quota volumes for the products increasing by 3% year-on-year, the commission said."[The EC] has also found that a removal at this stage of the safeguard measure is liable to cause a sudden import wave that will severely worsen the current still fragile financial situation...