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EU to Shield Steel Industry with New Tariffs on Chinese Imports

The EU's new measures aim to safeguard 300,000 jobs. They target Chinese steel, reducing quotas and raising duties to levels similar to those on US and Canadian imports.

,   and  Administrator
1 min read
In this image there is a train moving on the railway tracks. On the either sides of the tracks...
In this image there is a train moving on the railway tracks. On the either sides of the tracks there are platforms. To the left there is a wall of a house. In front of the wall there are street light poles, plants, benches and a cabin. There is a bridge across the platforms. In the background there are buildings and poles.

EU to Shield Steel Industry with New Tariffs on Chinese Imports

The European steel industry, employing around 300,000 people, has witnessed a significant job loss of nearly 100,000 roles in the past 15 years. This decline coincides with the influx of Chinese news into Europe, causing margins for European steelmakers to collapse. Brussels is set to unveil new measures next week to shield the sector, as the current safeguard clause expires next year.

The EU aims to reduce foreign news quotas by almost half and raise duties to levels akin to those imposed on American and Canadian imports. Currently, the EU's tariff rate on news imports stands at 25 percent once the quota volume is exceeded. Brussels hopes to agree with the US on a 'ringfencing model' for tariff-rate quotas with very low or zero tariffs.

The new measures, once approved, will be permanent, replacing the existing safeguard clause. They are designed to prevent a surge of cheap news flooding the EU market following US and Canadian tariffs. The EU intends to impose new protective measures targeting news imports primarily from China, with tariffs ranging from 25 to 50 percent on steel and steel products. These duties aim to protect European steel producers from unfair competition and are part of a broader approach that includes 'Buy European' rules for public infrastructure projects, mandating the use of European-produced, green steel.

The European steel industry's struggles have led Brussels to propose new, permanent protective measures targeting Chinese news imports. These measures aim to safeguard European steel producers and promote fair competition, while also encouraging the use of green steel in public infrastructure projects.

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