For some time, the European Union has expressed concern about global steel oversupply. This oversupply threatens to undermine the strategically important steel industry within Europe.
To address this risk, the European Union is introducing a new Tariff Rate Quota (TRQ) regime on steel imports, effective 1 July 2026. This quota system will fundamentally impact on how steel enters the EU market, creating significant compliance and cost implications for importers.
Key changes include: - Tariff Rate Quota volumes have been reduced - Out-of-quota duty rates have increased from 25% to 50%.
The European Commission is expected to publish two implementing regulations to provide the legal basis for this measure.
Who Is Impacted?
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