EU Cuts Tariff-Free Steel Quotas 33% For Close Trade Partners
Bloomberg 2026-06-30 08:31:06
Context: The European Union has introduced new measures to protect its local steel industry, primarily from imports from China, by cutting tariff-free steel quotas for close trade partners by 33%. This move involves reserving half of the steel quotas for countries with which the EU has free-trade agreements. The changes aim to rebalance the steel trade and support EU producers.
Key Facts
- The European Union has cut its tariff-free steel quotas for close trade partners by 33%, a move intended to shield the local steel industry from a surge in imports.