15:54 - 2.10.2025

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October 2, Fineko/abc.az. The European Union plans to increase duties on steel imports to 50%.

ABC.AZ reports that this step will bring the block's rates in line with the tariffs of the U.S., which is seeking to combat overcapacity in China.

The EU currently has a temporary steel industry protection mechanism that imposes a 25% duty on most imported goods after quotas are exhausted. This mechanism expires next year, and the EU is working to replace it with a more permanent instrument, which is scheduled to be unveiled next week.

The European Commission, which deals with EU trade issues, plans to raise the customs tariff rate to 50% "to minimize the risk of trade reorientation", the draft says. A higher rate will be applied to imports after reaching a certain quota.