EU Cuts Steel Import Quotas by 47%, Doubles Tariffs to 50% in July

The European Union approved sweeping steel import restrictions on May 19, 2026, slashing duty-free quotas from historical levels to 18.3 million tonnes annually and raising out-of-quota tariffs from 25% to 50%. The measures take effect July 1. EU officials cite global overcapacity and subsidized Chinese competition as rationale. Fourteen member states backed the extension of safeguards first introduced in 2018 following U.S. trade restrictions. The shift will compress import volumes significantly—the EU imported 27.4 million tonnes in 2024.