Brussels wants to reduce import quotas for steel – tariffs to rise by up to 50 percent

The European Commission is preparing far-reaching changes to steel imports—quotas are to be almost halved and tariffs on excess quantities raised to up to 50 percent in order to align with the approach taken by the US and Canada.

The measures are to be officially presented on October 7 and are part of a broader strategy to protect the European steel industry from Chinese overcapacity. The current protective measures are only valid until June next year.

Brussels has already tightened quotas by 15 percent since April and is considering further steps in the aluminum sector as well as export duties on scrap metal.

The issue of steel has once again taken center stage after US President Donald Trump raised American tariffs. The EU is therefore planning closer cooperation with the US within the framework of a so-called “metal alliance.” However, European producers continue to face high export tariffs.

Negotiations on new framework conditions could continue following the recent meeting between Maroš Šefčovič and US Trade Representative Greer.

(reuters, lup)