Source: Foundation for Economic Education
by Cláudia Ascensão Nunes
“Steel tariffs protect producers at the expense of the businesses that depend on them. As of July 1, the European Union has capped duty-free steel imports at about 18.3 million tonnes (20.2 US tons) a year, 47% below 2024 quota levels. Regulation (EU) 2026/1384 also doubles the duty on imports that exceed those limits, from 25% to 50%. Brussels justifies these measures by pointing to global overcapacity and the need for strategic autonomy. Yet, by making imported steel more expensive, it risks hurting thousands of European companies that rely on this raw material to compete in domestic and international markets.” (10/20/26)