[SMM Iron & Steel] EU Officially Adopts New Steel Trade Protection Measure | June 9, 2026
The EU has formally adopted a new steel trade framework to replace the current safeguard system expiring July 1, 2026. Tariff-free import quotas are cut by ~47% to approximately 18.3 million tonnes per year, with above-quota tariffs doubled to 50%. A new "melt and pour" traceability rule is introduced to prevent circumvention. Industry groups welcomed the move but continue to call for lower energy costs and stronger industrial policy support.