EU draft proposes 50% steel tariffs, replacing current quota system expiring next year: Report

The European Union is preparing to double its steel import tariffs to 50%, Bloomberg reported. The measure would bring the EU in line with the United States, which has pressed allies to counter excess capacity from China.

At present, the bloc maintains a temporary safeguard that places a 25% duty on imports once quotas are exceeded. That mechanism is set to expire next year, prompting Brussels to design a more permanent system to protect its steel sector.

According to the draft, the European Commission will propose raising the tariff ceiling to 50% “to minimise the risk of trade diversion.”

The new rules would apply once specified quotas are met, with allocations set for individual product types based on historical averages. The commission also wants authority to establish country-specific quotas under the new framework, expected to be unveiled next week.