CRU: EC to toughen steel safeguards

The European Commission proposes cutting its steel import quota by almost half, with volumes exceeding the limit facing 50% duties. The region’s steel industry welcomes the move, while other steel-producing nations fear the consequences. 

CRU published an insight before this announcement, noting that more restrictive trade policy could significantly raise the cost of marginal supply to the EU market. While some details of the official proposal differ slightly from earlier discussions, that potential remains valid. Points raised about how the policy’s impact could be diluted also still apply—especially considering that implementing any new system may still be up to nine months away, and that semi-finished steel is not included. Further notes on the official proposal appear at the end of this article.