[SMM Iron & Steel] European Parliament Passes Historic Steel Trade Defense Measure, Cutting Import Quotas by 47%

Published: May 21, 2026 15:10

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The European Parliament has officially approved a sweeping and permanent steel trade protection framework, passed by 606 votes in favor to 16 against, designed to safeguard the domestic sector from global overcapacity ahead of the June 30, 2026, expiry of temporary safeguards. Set to enter into force on July 1, 2026, the regulation mandates a drastic 47% reduction in tariff-free steel import quotas compared to 2024 levels, setting a rigid ceiling of 18.3 million metric tons (mt) annually. Furthermore, any import volumes exceeding these specific limits or consisting of steel grades not covered by the quotas will face a punitive 50% customs duty, doubling the previous 25% penalty. T

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