EU to cut quotas, raise tariffs on steel, sources say

The European Commission plans to reduce steel import quotas by about half and raise duties on volumes exceeding those levels to 50%, mirroring levies imposed by the US, Reuters reports, citing an unnamed source. The proposed measures — earmarked for implementation on 7 October — represent efforts by the bloc and its allies to curb overcapacity stemming from Chinese subsidies on steel and other commodities.

The timeline: The EU curbed steel import quotas by 15% on 1 April 2025, and its trade safeguards are set to expire by 30 June 2026, the newswire reports. The European Commission — concerned with steel dumping — announced in March a 15.6% temporary tariff on hot rolled coil imports from Egypt starting 7 April, pending a final decision this month.