European Commission's Steel Duty Proposal: Safeguarding Industry

The European Commission has introduced a proposal for a 50% duty on imported steel that exceeds quota limits. The initiative is part of a broader effort to safeguard and reindustrialize the European steel industry. Commissioner Stephane Sejourne emphasized the strategic move, terming it a new safeguard clause for steel in Europe.

This decision comes at a critical time, aiming to bolster European industry amid global trade challenges. In a statement shared on the platform X, Sejourne highlighted the importance of this measure in securing the competitiveness and growth of domestic steel producers.

As reported by Benoit Van Overstraeten and edited by Bart Meijer, the European Commission's action is seen as a pivotal step in strengthening the industrial backbone of Europe, ensuring that domestic production is shielded from market fluctuations caused by imported steel.

(With inputs from agencies.)