The Council of the European Union and the European Parliament have reached a provisional agreement on new trade measures designed to protect the EU steel sector from rising imports and global overcapacity.
The agreement comes as excess global steel capacity is projected to reach 721 million metric tons by 2027, increasing pressure on European producers.
Key elements of the new framework include:
- 18.3 million metric tons of annual tariff-free quotas
- 50% out-of-quota duty on 30 categories of steel products
- A new “melt & pour” traceability requirement to improve supply chain transparency
The system will replace the current safeguard regime, in force since 2018, when it expires on July 1, 2026.
EUROFER welcomed the agreement, saying it would help protect more than 230,000 jobs and stabilize the steel sector amid record import pressure.
Further formal approval by EU institutions is still required.
VietnamSteel by Hoa Sen Group
