Italian importers are concerned about the economic consequences of implementing the mechanism in 2026
The Carbon Border Adjustment Mechanism (CBAM) regulatory framework and safeguard measures on steel imports are hampering the daily operations of Italian and European steel companies. This position was expressed by the Italian trade association Assofermet, Agenparl reports .
Problems with the completion of CBAM reports, the expected economic impact of the mechanism from 2026 and the European safeguard measures in place since 2018 are a concern for many members of the association.
The association, which represents Italian distributors of scrap, raw materials and steel products, held discussions with relevant institutions in Brussels and Rome. In particular, in mid-January this year, Assofermet met with two relevant directorates of the European Commission – Trade and Taxation and Customs Union.
According to the association, they received assurances that their point of view, especially with regard to the future evolution of CBAM, would be taken into consideration.
“While we agree that CBAM will also increase costs for end users in the steel supply chain, we have highlighted to the EC that if certain types of finished products are not included in the mechanism, European industry will lose competitiveness given its global role ”, said Assofermet.
The association also highlighted the open attitude of the Italian authorities towards steel supply chain problems arising from regulation and the willingness to continue dialogue on the regulatory framework.
As the GMK Center previously reported, companies that had difficulties submitting their first report under the cross-border carbon adjustment mechanism due to technical problems with the relevant registration were given the opportunity to postpone it for one month. During the transitional phase, importers had until January 31, 2024 to submit declarations for the fourth quarter of 2023.
