The European Union has approved measures restricting duty-free steel imports, effective July 1.

The European Parliament approved restrictions on duty-free steel imports into the EU last Thursday, aiming to protect the EU's steel industry and increase its capacity utilization to 80%. The measure will take effect from July 1. The EU will cut the annual duty-free steel import volume by 47% compared to the 2024 level, reducing it to 18.3 million metric tons per year. For imports exceeding this quota, a 50% tariff will be imposed—higher than the current 25%. The EU will enforce stricter "melting and casting" traceability rules to determine the origin of steel and prevent tariff evasion. The European Commission will set duty-free steel import quotas for each member state before July 1. Last year, the main sources of EU steel imports were Turkey, South Korea, Indonesia, China, India, and Ukraine.

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Original article: toutiao.com/article/1865678961041419/

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