(ABM FN-Dow Jones) The European Union has agreed to temporary measures to restrict the import of steel. 

According to Brussels, this is necessary because of the influx of steel after the United States imposed heavy import duties. Countries that previously exported their steel to the US are now looking for new sales markets because of these levies. 

The provisional measures are expected to be introduced in mid-July. The investigation into the issue will most likely run until the end of 2018. 

Moreover, the extra levies will only come into force if the import exceeds the normal level. 

The exact dates and scope will only become known after the committee has approved all measures. 

By: ABM Financial News.