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<\/p>\nMon, 13 April 2026 at 10:22 pm UTC<\/p>\n
European Union flags flutter outside the European Central Bank (ECB) headquarters in Frankfurt, Germany, March 19, 2026<\/p>\n
(\u00a9 Jana Rodenbusch, Reuters)<\/p>\n
EU lawmakers and countries agreed to double tariffs<\/a> on foreign steel<\/a> on Monday, to shield the bloc’s struggling industry<\/a> from a flood of cheap Chinese exports<\/a>.<\/p>\n European Union<\/a> governments and parliament representatives reached a late evening deal to hike levies on steel imports to 50 percent and slash the volume allowed in before tariffs apply by 47 percent.<\/p>\n “The shape and global standing of Europe<\/a>‘s steel sector are fundamental to our strategic autonomy and industrial strength. We therefore cannot afford to turn a blind eye to global overcapacity reaching critical levels,” commented the EU’s trade chief, Maros Sefcovic.<\/p>\n “Today’s outcome helps bring much-needed stability for our producers to thrive in Europe”.<\/p>\n Read more‘Most challenging situation\u2019 for transatlantic relations as Trump threatens EU with tariffs<\/a><\/p>\n Under the deal, which follows a proposal put forward by the European Commission<\/a> last year, import tariff-free quotas will be reduced to 18.3 million tons a year — the total volume of steel the EU imported in 2013.<\/p>\n That year was chosen because the EU considers the market became unbalanced from that point on because of excess production — mainly due to China<\/a>, which massively subsidises local steelmakers and now produces more than half the world’s steel.<\/p>\n The new measures will apply to imported products from all countries, except for European Economic Area members Iceland<\/a>, Liechtenstein<\/a> and Norway<\/a>.<\/p>\n They will replace the current safeguard scheme, which imposes 25-percent duties beyond set import quotas but ends at the end of June.<\/p>\n