Commission adopts new prior-surveillance system for import of steel products

The European Commission established today a prior surveillance system for import of steel products into the European territory that will serve to anticipate short-term market developments and take the necessary actions, if and when needed.
Imports of steel products into the Europe will now require an import license. This decision also gives a clear signal to companies, including in exporting countries, that the Commission actively monitors market developments and is willing to take the necessary steps if justified. Prior surveillance measures are foreseen in the european’s safeguard instrument and can be introduced when import trends threaten to cause injury to Union producers.
The steel industry in Europe is world-leading in certain steel product segments, represents 1.3% of EU GDP and provided around 328,000 jobs in 2015. Despite the potential of the European steel sector and the significant efforts made to innovate and modernise, its competitive position on the global steel market has deteriorated in recent years. Excess production of steel in third countries such as China has increased exports, depressed prices, and given rise to an unprecedented wave of unfair trading practices.

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