On Friday 12 December, the Council of the European Union adopted its negotiating position on the new safeguard measure to protect the European steel industry. The EU Member States have adopted the Commission’s main elements, namely the system of tariff quotas for all third countries - excluding the EEA - and the 50% tariff for imports outside the quotas. They did, however, make a few changes to the text, adding a degree of flexibility.
While EU economic sectors that use steel in their...