EU Steel Imports From 3rd Countries Will Require An Import License

Today the European Commission announced its new transparency tools for EU trade defence instruments (TDIs). The goal is to increase predictability for all parties involved in trade defence proceedings, including the procedural aspects of cases and particularly deadlines.

The initiative detailed below complements the Commission’s recent adoption of a prior surveillance mechanism for steel products. In practical terms, as of 21 May, steel products imported from third countries with the exception of Norway, Iceland and Liechtenstein will require an import license. The prior surveillance mechanism was published in the Official Journal of the European Union on 29 April and became effective on the following day. The system will be in place for four years. 

As part of the Commission’s initiative to modernise certain elements of the EU’s trade defence system in the context of the ongoing crisis caused by overproduction in third countries and unfair trading practices, the European Commission is currently examining other sectors which might need support in the near future (no exact list has been published yet).