The European Commission intends to propose a significant reduction in steel import quotas and an increase in tariffs on volumes exceeding those limits to 50%, aligning its actions with those already taken by the United States and Canada, according to Reuters. This initiative is part of a comprehensive package for the steel sector scheduled for disclosure on October 7. Stephane Sejourne, the Commission’s Executive Vice President for Industrial Strategy, discussed this plan with industry representatives.
Henrik Adam, President of Eurofer and Vice President of Tata Steel, commented that Sejourne had acknowledged their concerns, although precise details were not disclosed. Currently, European Union safeguards on steel imports are slated to expire in 2026 under World Trade Organization regulations. These rules currently constrain import volumes but allow for a 25% tariff on any amounts exceeding the set limits. Steel industry groups have pointed out that the existing quotas are set at 26% above initial levels, despite diminished demand, prompting calls for a more stringent cap and increased tariff rates. The proposed changes would bring the EU’s measures in line with those of Canada and the U.S., though it's noteworthy that in the U.S., tariffs are applied from the very first ton of imported steel.
