EU: Imposing 50% Tariffs

On the 7th, the EU announced measures to restrict steel imports, proposing a significant reduction in the quota for steel imports eligible for tariff exemptions and raising the steel tariff from 25% to 50%.

According to a statement released by the European Commission on the same day, the EU plans to set the annual steel import quota at 18.3 million tons, a 47% reduction compared to the 2024 steel import quota. For steel imports outside the quota, the EU intends to impose a 50% tariff, doubling the current 25% tariff.

The statement also indicated that the EU will take measures to strengthen the traceability of the origin of melted and poured steel products to prevent so-called "circumvention" practices.

The statement noted that the EU's move aims to address the negative impacts of global steel overcapacity and ensure the long-term development of the EU's steel industry, a strategic sector.

According to the EU's schedule, after the European Commission announced the restrictive measures on the 7th, the European Parliament and the Council of the European Union will review them. If approved, these measures will take effect in June 2026, when the EU's current measures expire.

According to EU statistics, the EU currently has approximately 500 steel production bases spread across more than 20 member states, directly employing about 300,000 people and indirectly supporting around 2.5 million jobs.

In March of this year, after the U.S. imposed a 25% tariff on all steel imports, the EU released the "Steel and Metal Industries Action Plan," deciding to further tighten steel import restrictions. In June of this year, the U.S. doubled the tariff rate, imposing a 50% tariff on all steel imports.