The European Parliament’s INTA trade committee has voted to approve proposed new EU trade measures, including steel tariffs and import quotas, aimed at counteracting the effects of the global steel production surplus on the bloc’s market.
The committee voted 36-2 — with five abstentions — to adopt the measures that would cut annual tariff-free steel import volumes to 18.3 million metric tons, down 47% from 2024 levels, while applying 50% customs duties on imports exceeding quota levels.
The measures as backed by INTA are at core the same as those voted on by the European Council back in December, reducing tariff-free quotas by nearly half, but the latest version does not support the reintroduction of the carry-over of unused quotas.
The committee has also tightened up the “melt and pour” rules, specifying that quota allocation should be determined by the country of “melt and pour”, supported by robust and verifiable documentation, such as mill test certificates, European steel association Eurofer said in a note following the vote.
INTA also imposed a complete ban on Russian and Belarusian steel, as the EU moves to shield its struggling industry from global overcapacity ahead of expiring World Trade Organization safeguards
“Steel production is a strategic priority for Europe,” according to MEP Karin Karlsbro, part of Renew Europe Group. “In times of geopolitical uncertainty, the strength of our steel industry is central to Europe’s resilience. Today, we have said yes to continued tariff-free trade with Ukraine and no to Russian steel imports into the EU. This is a clear demonstration of European resolve.”
The committee said negotiations with the European Council will now start, with the aim of reaching agreement on a final version of the bill in the spring.
Platts, part of S&P Global Energy, assessed on Jan 27 domestic HRC in Northern Europe at Eur640/mt ex-works Ruhr and in Southern Europe at Eur630/mt ex-works Italy, both unchanged day over day.
