[SMM Steel] UNESID welcomes new EU steel trade mechanism

Published: Apr 17, 2026 17:41

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[SMM Steel] UNESID welcomed the new European Union steel trade mechanism set to take effect on July 1, 2026, replacing current safeguards. The system reduces tariff-free quotas by ~47% to 18.3 million mt/year and raises out-of-quota tariffs to 50%, while allowing limited quota carry-over in the first year.

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