EU reaches preliminary deal to cut tariff-free steel imports and raise duties on excess shipments

What exactly would change under the new EU steel rules?

The deal would cap tariff-free steel imports at 18.3 million tonnes per year and apply a 50% tariff to imports above that level, replacing the current lower out-of-quota duty Global Banking & Fi…,tagesschau.de,Reuters.

Why is the EU tightening steel import rules now?

The stated reason is to shield the EU steel industry from global overcapacity and trade diversion, with reports saying European producers are running at about 65% capacity and policymakers want to push that closer to 80% Firstpost,Haberler,Reuters.

Is the agreement already in force?

No. Multiple reports say the deal is preliminary and still needs formal approval by EU institutions before it can take effect; current rules are reported to expire on June 30 tagesschau.de,Yeni Şafak,自由時報電子報.