European Parliament Approves New Steel Trading Measures
MEPs have approved new trade regulations for the European steel market.
The regulation introduces lower import quotas by limiting tariff-free imports to 18.3Mt annually, a 47% reduction on 2024 quotas.
Furthermore, a 50% customs duty (compared to the 25% currently) will be applied to imports above the quota and to steel goods not covered by it.
Lead negotiator of the file, Karin Karlsbro, said: Europe needs a strong and competitive steel industry built on trade, innovation and fair competition. Combatting the negative trade effects of global overcapacity is essential, and I welcome the exemption for Russian steel slabs not being extended.
“At the same time, Ukraine must not be punished by EU measures while its steel industry is under direct Russian attack. Ukraine is not the source of global overcapacity. We must treat them as a future EU member and strategic partner, and the EU must now live up to our promise that Ukraine will receive special status under the new regulation.”
The regulation will also implement a ‘melt and pour’ rule, under which the origin of steel is determined by where it is first melted and cast, aiding in traceability and limiting circumvention.
The new regulation, which was already agreed between Parliament and Council negotiators, was approved by 606 votes in favour and 16 against, with 39 abstentions.
After being formally approved by the Council, the regulation will come into force on 1 July 2026.