EU declares new rule to protect EU steel; the EU's steel measure, which enters into application on 1 July 2026, reduces duty-free imports of 26 categories of steel products into the EU by an average of 47% as compared with the quotas under steel safeguard
Newsquawk Staff ·
- The tariff quota distribution aims to minimise the impact of the EU's steel measure on its FTA partners within the limits of the Steel Regulation and without compromising the measure's effectiveness.
- Half of the EU's annual import quota has been reserved exclusively for preferential trading (FTA) partners, with the remaining half available to all trading partners – including FTA partners – without discrimination. Moreover, many FTA partners will receive secure country-specific quotas proportionate to their historic import volumes.
- Most of the EU's FTA partners will therefore see a market access reduction significantly lower than the average reduction of 47% foreseen by the Steel Regulation.
Sources
- Newsquawk Daily Asia-Pac Opening News - 22nd October 2026
- US Market Wrap: Stocks gain as tech earnings begin
- Newsquawk European Market Wrap - 21st October 2026
- Canadian PM Carney is expected to announce tariff support measures for the steel and automotive sectors
- Newsquawk Daily US Equity Opening News - SMCI raises outlook; SPCX up after results, NFLX down on weak guidance
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