The German steel industry has informed the German government that it is seeking to extend its steel protection import quota to 2026, citing the need for a government solution on Monday, January 29.
The German steel industry has informed the German government that it is seeking to extend its steel protection import quota to 2026, citing the need for a government solution, the German steel industry said in a statement released on Monday, January 29.
The European Commission in 2018 announced a decision to impose a global tariff quota on 23 product groups with an additional 25% tariff after the quota was exceeded. This decision included the exemption of quarto plates, magnetic coils, rails and their materials, seamless pipes, unalloyed and alloyed cold-rolled bars, and products from all countries to avoid an increase in imports.
This quota agreement, signed by the European Union with the aim of protecting steel imports, is expected to come to an end. However, 11 German states have demanded an extension of the agreement, stating that they need steel protection import quotas.
The German steel industry, in a statement, has called for a higher inclusion of iron and steel in the 'Carbon border adjustment mechanism (CBAM)', and also cited the increasing need for renewable energy in the transition to 'green steel' products. In anticipation of renewable energy storage, the German steel federation also emphasized the importance of consistent certification for green hydrogen.
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