European Union proposes to double steel import tariffs to 50%
2025-10-02 09:30:57
On October 2nd, according to Reuters, the European Union Commission will propose to cut steel import quotas by nearly half and raise import tariffs on steel exceeding quotas sharply from 25% to 50%, in line with tariff levels in the United States and Canada. The measures are part of a new package for the steel industry that the European Union Commission plans to unveil on October 7th. The European Union currently has a temporary mechanism to protect its steel industry and will impose a 25% tariff on most imported steel once quotas are exhausted. The mechanism expires next year and the European Union has been working to replace it with a more permanent tool.
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