The European Union has introduced a new package of steel import tariffs aimed at protecting its struggling industry, in a move that mirrors the protectionist policies of former US President Donald Trump.
In a statement released on Tuesday, the European Commission announced that the bloc will impose a 50% tariff on steel imports exceeding the newly reduced quota, which will be cut by around 45% to 18.35 million tonnes per year.
This means that only about 10% of Europe’s steel consumption will remain exempt from the new tariffs. EU Industry Commissioner Thierry Breton (or Stéphane Séjourné, per the statement) described the measure as “one of the most restrictive trade actions in Europe’s history.”
He explained that the tariffs are intended to counter the influx of subsidised Chinese steel products, alongside high energy costs and weak domestic demand, all of which are threatening Europe’s traditional industrial base.
The move comes as the EU seeks to align its trade policies with the United States, which already applies 50% tariffs on most steel and aluminium imports, as part of a broader effort to coordinate responses to Chinese competition.
The new tariffs—still subject to approval by EU member states and the European Parliament—are expected to significantly impact the UK steel industry, as around two-thirds of British iron and steel exports go to the European Union.
