BIR urges balanced approach as EU proposes new measures to protect steel sector

The proposal introduces several measures, including limiting tariff-free import volumes to 18.3 million tonnes a year (a 47% reduction compared to 2024), doubling the level of out-of-quota duty to 50%, and introducing a Melt and Pour traceability requirement to prevent circumvention. Once reviewed and adopted by the European Parliament and the Council, this regulation would replace the EU's current safeguard on steel, which expires in June 2026.