EU approves stricter measures to protect steel market

The new rules will replace the current EU steel safeguard measure, which expires on 30th June 2026, ensuring continued protection for the EU steel sector.

The new rules are set to take effect on 1st July, replacing the current measures, with 25 out of 27 countries voting in favour of this amendment.

The new procedures stipulate a reduction of duty-free quotas by approximately 47%, allowing the import of 18.3 million tonnes of steel annually without tariffs. In contrast, a 50% customs duty will be imposed on quantities exceeding these quotas, compared to the current rate of 25%.

This step comes as part of the European Union’s efforts to strengthen the protection of its industrial sector in the face of global pressures and increasing competition in steel markets.

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