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European steel producers call for lowering steel import quotas

On June 8, some European steel producers issued a statement through the European Steel Union, urging the EU to reduce steel import quotas, and warned that a large amount of possible imported steel will threaten the European steel industry that has been hit hard by the new coronary pneumonia epidemic.
 

Earlier, the United States imposed a 25% tariff on imported steel, causing many exporters to turn their attention to the European market. "Currently, the European steel industry is facing severe challenges, and the European Commission's steel safeguard review proposal does not take into account the sharp decline in demand." The European Steel Union said in a letter.

Since March, EU steel demand has fallen by 50%, and 40% of EU steel workers have been laid off or engaged in part-time work. It is learned that under the safeguards, the EU has set import quotas for 26 types of steel including stainless steel to an average import increase of 5% from 2015 to 2017, and will reduce the 5% increase to 3% in 2019. Imported products that exceed the quota are subject to a 25% tariff.