I still can’t help but be amazed, however, that the EU—which has been able to talk about carbon leakage forever—has still left such basic products as pipes, steel wires, or steel bars out of the new legislation…
If things are as Outokumpu mentions in its release.
A clear change from the old:
-melted & poured rule
-roughly halving the tariff-free quota
-roughly doubling the tariff on imports exceeding the tariff-free quota
While free trade is a good principle, it is nonsensical to be the sole torchbearer.
The unpredictability of 2020s geopolitics has proven this once and for all.
Six months after the regulation enters into force, the Commission will evaluate whether the scope should be extended to cover additional steel products, such as pipes, certain steel wires, or forged steel bars, and may propose legislative changes if necessary.