EU offers steel promises to partners

01/07/2026 11:18 - 1 Views

The European Union (EU) is throwing up new barriers this week to shield its embattled steel industry, but it said yesterday close partners including Britain and South Korea would still get special access to export into the bloc.

From today, the bloc will double duties on foreign steel and cut tariff-free import quotas to defend against global overcapacity – with cheap exports from China a major source of concern.

The bloc’s total quotas for tariff-free steel imports will be cut by nearly half to 18.3 million tonnes a year – the same volume the EU imported in 2013.

Half the quotas will be reserved for countries with which the bloc has free trade agreements or privileged ties. The other half will be accessible for all exporting nations – including those key partners.

So far, the bloc has reached deals with 13 countries on accessing the tariff-free quotas, including Brazil, Britain, India, South Korea, Switzerland, Turkiye and Ukraine.

The European Commission, which leads the EU’s trade policy, said it intended to “minimise” the impact of its safeguard measures on trading partners.

The issue has become more acute since United States (US) President Donald Trump imposed higher tariffs on steel last year, forcing others like Canada to take similar steps.

Source: Borneobulletin