EU Adopts New Steel Market Protection Rules Effective July 1

The Council of the EU has adopted a new regulation establishing a framework to shield the European steel market from the negative impacts of global overcapacity. The regulation, set to be implemented on July 1, introduces revised tariffs and quotas, replacing existing measures that expire on June 30. This action is part of the 2025 Steel and Metals Action Plan, ensuring continued protection for the sector.

Cyprus Minister of Energy, Commerce, and Industry, Mikael Damianos, emphasized the critical role of steel for Europe's industrial base, its green transition, and security. He stated that the new regulation provides a stronger framework for the EU to respond to global market disruptions, protect fair competition, and offer greater security to steel producers and related industries.

The revised tariff-rate quota (TRQ) system includes a reduction in import quotas and an increase in tariffs for imports exceeding these quotas. The system also offers increased flexibility for economic operators, allowing unused quotas to be carried over between quarters within the same year. This ensures an adequate supply for industries while maintaining compliance with the EU's international trade commitments.

In a joint declaration, the Council, European Parliament, and European Commission reaffirmed their commitment to reducing economic dependence on Russia. They highlighted ongoing efforts to diversify steel imports and phase out Russian steel products. The EU steel industry, a major global producer employing around 300,000 people, faces significant pressure from unsustainable global overcapacity, projected to grow substantially in the coming year.

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Usvajanjem uredbe Unija uspostavlja snažniji okvir za reagovanje na poremećaje na svetskom tržištu, zaštitu fer konkurencije i pružanje veće sigurnosti proizvođačima čelika i industrijama