EU's New Tariffs: Shielding Steel

The European Commission has announced new quotas to limit duty-free steel imports, aiming to bolster the EU's steel sector. The measures slash annual tariff-free import quotas by 47% and introduce a 50% duty on out-of-quota imports for 26 steel categories. Half of these quotas are reserved for FTA partners.

The European Commission has introduced new restrictions on duty-free steel imports to protect the EU's steel industry, aiming to boost its capacity utilization to 80%.

The new regulation cuts the EU's annual tariff-free import quotas by 47% to 18.3 million tonnes and introduces a 50% duty for steel products exceeding these quotas.

These measures aim to tackle global steel overcapacity and dumping practices, ensuring fair competition in the international market.