The European Parliament voted today in favor of the proposed safeguard measures against steel imports.

Accordingly, the European Commission is expected to finalize the procedure and measures are expected to enter into force in early February. The proposed measures envisage import quotas for a period between July 1, 2019 and June 30, 2020 and that the quota volumes will be increased by five percent for the period between July 1, 2020 and June 30, 2021.

The quotas for long steel products are set on a country-by-country and product-by-product basis for selected large exporting countries. These country-specific quotas apply for the entire specified time periods.

All other countries are assigned to product-specific quotas that will be divided into four equal parts and each will be valid for one quarter of the calendar year.