The European Commission is preparing to introduce a new proposal aimed at halving steel import quotas and raising tariffs on volumes exceeding these quotas to 50%, according to sources cited by Reuters.
This proposal is part of a new steel sector package set to be unveiled by the Commission on October 7. Stefan Sejourné, the Commission’s Vice President for Industrial Strategy, has already briefed industry stakeholders ahead of the official announcement next week.
The current safeguard measures on steel imports into the European Union are due to expire on June 30 next year. Meanwhile, EU member states are striving to cope with the production surplus generated by Chinese steel mills and other industrial sectors.
These moves follow U.S. President Donald Trump’s decision to impose a 50% tariff on steel and aluminum imports, aiming to boost domestic industry and attract foreign investment.
