The Economic Times

EU unveils new steel import quotas to protect its industry from overcapacity, reserves half for FTA partners

The European Commission has implemented new quotas to curb duty-free steel imports, aiming to bolster the EU's steel sector and boost capacity utilization. Annual tariff-free imports will be cut by 47% to 18.3 million tonnes, with a hefty 50% duty on out-of-quota steel. Half of these quotas are reserved for free trade partners, with country-specific allocations designed to minimize impact on most allies.