The European Commission (EC) is preparing to propose a plan to tighten steel imports into the European Union market, including reducing import quotas and increasing taxes on this item.
According to Reuters, the EC is expected to propose cutting the quota for steel imports in half, while all steel imports exceeding the quota will be subject to a tax of up to 50%.
The tightening of steel imports is seen as part of a deal with the US that will allow European steel to avoid the US's 50% tariff, as well as help protect the domestic steel industry from concerns about China's excess capacity.
The new proposal package for steel products is expected to be announced on October 7.
The EU has applied a safeguard mechanism for the steel industry since 2019, which was extended in 2024 and is expected to expire in mid-2026. However, this mechanism is assessed by the industry as insufficient to cope with the current competitive situation.
The steel industry has long been a symbol of European integration. In the 1950s, it was the coal and steel industry that laid the foundations for the formation of the European Community, the beginning of today's EU.
Source: https://vtv.vn/eu-can-nhac-that-chat-kiem-soat-nhap-khau-thep-100251002080240033.htm
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