(Adnkronos) – The European Council has adopted the regulation establishing a new framework to protect the EU steel market from the commercial effects of global overcapacity. The new rules will replace the current EU steel safeguard measure, which expires on June 30, 2026, taking effect the following day, as explained in an official statement.
The new regime provides for a tariff quota system with a 47% reduction in import quotas compared to the previous one. In addition, a new 50% duty on steel imported outside these quotas will apply. Furthermore, the new framework also allows operators to carry over unused quotas from one quarter to another, but only within the same year, as well as provisions related to the “melt and pour” requirement, which identifies the country where the steel was first melted and poured into its initial solid form, in order to improve transparency and help prevent circumvention. Finally, a strengthened review mechanism is foreseen, allowing the European Commission to assess the scope and effectiveness of the measure and to propose adjustments where necessary in response to market developments and changing global overcapacity conditions.
