EU Reaches Provisional Deal to Halve Steel Import Quotas, Double Above-Quota Tariffs

Overview

• EU lawmakers and member-state negotiators reached a provisional deal late Monday to cap duty-free steel imports at 18.3 million tonnes and charge 50% on volumes above that level.
• The new rules would replace the 2018 safeguard that adds 25% on above-quota shipments, which is set to expire on June 30 under WTO timing.
• The measure still needs formal approval by the European Parliament and the Council, with a possible start on July 1 if both vote yes.
• To stop workarounds, importers would have to show where the steel was melted and poured, and a six-month review could widen the list of covered products.
• Officials say the plan aims to lift plant use from about 65% to roughly 80% after about 100,000 job losses since 2008, and it includes a pledge to phase out Russian steel by possibly September 2028, with recent EU imports led by Turkey, South Korea, Indonesia, China, India, Ukraine, and Taiwan.