On Tuesday, the International Trade Committee adopted a number of measures to counter the negative impact of global overproduction on the EU steel market.
With 36 votes in favor and 2 against, with 5 abstentions, MEPs from the Committee on International Trade approved their position on the proposed regulation aimed at countering the negative trade consequences of the global surplus of steel production on the European market. The global steel guarantees, which have been in force since 2018 under the World Trade Organization (WTO), expire on June 30, 2026.
The approved text provides for a reduction in import quotas, limiting the volume of duty-free imports to 18.3 million tons per year, a 47% reduction compared to steel quotas for 2024. This would also lead to the imposition of a 50% customs duty on imports in excess of the quota and on steel products not subject to the quota.
The draft resolution is aimed at strengthening the traceability of imported steel products by clarifying the evidence that importers must provide about the origin of their steel.
The members of the Commission confirmed the need to bring the new regulation in line with WTO rules and asked the Commission to monitor the impact of this regulation and assess the possibility of making changes to products subject to the rules.
Finally, the bill introduces a total ban on steel imports from Russia and Belarus, adding steel to the list of goods already subject to import restrictions from these two countries.
After the vote, speaker Karin Carlsbro (Renew, SE) said: "Steel production is a strategic priority for Europe. In times of geopolitical uncertainty, the strength of our steel industry plays a key role in Europe's resilience. Today we said yes to the continuation of duty-free trade with Ukraine and no to the import of Russian steel into the EU. This is a clear demonstration of Europe's determination."
The International Trade Committee also approved the decision to start negotiations with the Council in order to reach an agreement on the final form of the bill in the spring.
Source: europarl.europa.eu
