Law360 (June 14, 2021, 6:13 p.m. EDT) – Ahead of a closely watched summit with President Joe Biden on Tuesday, EU leaders have proposed extending restrictions on foreign steel for three years, citing a still high percentage of imports swallowed its market.
In a notice to the World Trade Organization on Friday, the European Union said while its 2018 safeguard restrictions on steel reduced imports, the overall market share of foreign steel is still too high. . Rather than ending the restrictions at the end of June as planned, the EU offered to keep them in place until June 2024.
The volume of steel production and unit prices have fallen …
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