Source: European Parliament
The Commission recognises that the EU steel sector is currently facing a challenging situation, given the contraction in EU demand for steel and growing global overcapacity.
Against this background, the Commission has initiated a review of the EU steel safeguard measure on 17 December 2024, following a request from 13 Member States.
The investigation will assess whether adjustments to the safeguard would be appropriate to bring short-term relief to EU steel industry in the current market reality. Any decision resulting from this investigation may become applicable as of 1 April 2025, at the start of a new quota quarter.
The Commission will indeed consider various options for adjusting the measure. The precise adjustments that would be most effective in addressing specific challenges will be determined during the investigation.
The steel safeguards will expire in mid-2026. The Commission is reflecting, together with stakeholders, on a follow-up solution to provide the necessary protection to the EU’s steel industry.
As announced in the political guidelines 2024-2029[1] and in the Competitiveness Compass[2], the Commission will adopt a Steel and Metals Action Plan, outlining actions on several policy areas, including trade related, which would also help improve the competitiveness of the EU steel industry.