The extended measure, which relies on a tariff-rate quota system to keep steel imports at bay, will be in place from 1 July 2021 to 30 June 2024 and will cover all of the same products. It also includes an automatic 3% annual increase to the quotas. 

The European Steel Association welcomed the move. 

“The conditions that required the launch of the safeguard initially are still very much present — including global steel overcapacity and U.S. Section 232,” said Eurofer director general Axel Eggert. 

Eurofer said the extended measure will not restrict supply of imported steel for those who need to have it, based on traditional trade flows. 

“Over the past three years, the size of the unused quota has grown — and there is plenty of space in the tariff-free quota for users to satisfy their material needs,” Eurofer said.