EU Proposes Steel Tariffs and Quotas to Protect Industry
The EU has proposed new steel import news and tariffs, aiming to protect its industry from unfair competition and oversupply. The EU Commission accuses China of giving its steel sector an unfair advantage through state aid.
The new news, set to come into effect by July 1, 2026, will allow around 60 percent of the previous year's total steel imports into the EU. These news will be permanent and reviewed every two years. A 50 percent tariff will apply to imports exceeding the quota, making them unprofitable and reducing overall imports.
The EU industry association has welcomed these proposals, but Austrian industry representatives have called for further measures to safeguard the energy-intensive steel industry. The EU Commission has not yet specified which third countries will be affected, but negotiations with affected nations will begin after the Council and EU Parliament approve the proposal. Notably, Switzerland and the UK are not exempt, while the EU, Iceland, Norway, and Liechtenstein are excluded from the new news and tariffs. The EU plans to stick to WTO rules and negotiate with 'like-minded trading partners' to resolve any disputes.
The new EU steel import news and tariffs aim to decrease imports, increase EU production, and protect European steelworks currently operating at two-thirds capacity. Only 18.3 million tons of main steel imports will be able to enter the EU market duty-free annually, significantly less than in the previous year.
