On Monday 8 June, the EU Council adopted a regulation that establishes a new framework to protect the EU steel market from the negative trade-related effects of global overcapacity, in line with the 2025 ‘Steel and Metals Action Plan’ (see EUROPE 13870/18).
These new rules will replace the EU’s current steel safeguard measure, which expires on 30 June.
The regulation provides for a reduction in the total volume of steel import quotas by approximately 47% compared to 2024, or 18.3 million tonnes per year. Beyond this volume, over-quota duties of 50% will apply (compared with 25% at present). These measures are designed to discourage excessive imports from third countries, while guaranteeing them controlled access to the European market. They also allow for the carryover of unused quotas from one quarter to the next, but only within the same year.
In a joint statement accompanying the regulation, the EU Council, European Parliament and the Commission also reaffirm their commitment to the gradual phase-out of Russian steel products.
Link to the statement: https://aeur.eu/f/m7p (Original version in French by Solenn Paulic)