The European Commission (EC) decided to extend the period of application of safeguard measures in the form of tariff quotas (TRQ) for some imported steel products for an additional 3 years (effective from January 1st). July 2021 to June 30, 2024).

According to the Trade Remedies Administration (Ministry of Industry and Trade), the European Commission (EC) has issued the final conclusion of the period-end review of safeguard measures for some imported steel products.
Accordingly, the EC concluded that the domestic industry of the European Union (EU) will continue to suffer serious damage if the measure is not extended. EU steel producers are still making adjustments to accommodate the increase in steel imports.
Therefore, the EC decided to extend the period of application of safeguard measures in the form of tariff quotas (TRQ) for some imported steel products for another 3 years (effective from July 1, 2021). until June 30, 2024).
According to this conclusion, the EC continues to maintain the quota allocation method that combines the allocation of individual quotas for each country and the general quota for the remaining countries. In-quota tax is 0%, while out-quota tax is 25%.
Vietnam continues to be subject to the common TRQ application with other countries on a quarterly basis for group 2 steel products (cold rolled steel plates); group 5 (galvanized, coated, coated steel); group 9 (stainless steel plate); group 24 (cast steel pipes).
For other groups of steel products, Vietnam is excluded according to the criterion that a developing country has a negligible import market share (less than 3%). In case the market share of importing another group of steel products from Vietnam into the EU exceeds 3%, this group will be included in the list of applying TRQ during the annual administrative reviews.

The Trade Remedies Department recommends that steel exporters monitor their imports to know the remaining quota when exporting to the EU.

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