European Commission Proposes Increasing Steel Import Tariffs to 50%: Impact on Ukrainian Exports

The European Commission has announced an initiative aimed at significantly strengthening the protection of the internal steel market in the European Union. According to the new proposal, it is planned to limit the annual duty-free steel import to the EU to 18.3 million tons, which is nearly 47% less compared to the quotas approved for 2024. Additionally, an increase in the import tariff on steel to 50% is expected.

This is reported by AgroReview

Objectives of the Measures and New Rules for the EU Steel Market

The mentioned restrictions are designed to protect European producers from competition from imported steel, particularly from countries with excess production capacity. The proposed changes are set to replace the current package of protective measures, which is due to expire next year. For the initiative to take effect, it must be reviewed and approved by the European Parliament and the EU Council.

Impact on Ukraine: Priority and Trade

During the allocation of quotas, the European Union will take into account the interests of Ukraine, which is a candidate country and is facing the challenging conditions of war. Ukraine remains one of the key suppliers of steel to the EU, ranking among the top ten sources of this metal.

The European Commission has assured that the plan to protect the EU steel industry will not harm trade between Ukraine and the European Union.

At the same time, Ukraine will continue to benefit from the system of duty-free tariff quotas for steel exports to EU countries, which allows for maintaining a stable level of trade even in the face of new restrictions.