Brussels proposes doubling tariffs on steel to protect it from China's exports
The proposal must be adopted by the European Parliament and the Member States in order to succeed.
The European Union wants to protect steel produced by itself, and has proposed measures this afternoon, including doubling tariffs and reducing the number of products entering without tariffs by almost half, in particular to protect them from the 'excessive exports' of Chinese industry.
These measures will now have to be adopted by the European Parliament and the Member States, which, once the green light has been given, will replace the current one, which will take place from June 2026. The EU has described the situation in the steel sector as' unsustainable 'due to the' unfair competition 'of several countries.
Although the details have not been disclosed, the proposal put on the table today includes a 47% reduction in the quota of non-tariff imports to 18.3 million tonnes. It also proposes an increase in tariffs of 25% to 50%.
In addition, importers shall be required, in the name of 'transparency', to provide rigorous information on the origin of steel in order to avoid fraud.
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