EU enforces tighter steel market rules
The European Union has approved new measures to protect the steel market, starting from July 1st. These include a 47% reduction in tariff-free quotas, allowing for the import of 18.3 million tons of steel annually without tariffs. A 50% import duty will be imposed on quantities exceeding these quotas, up from the current 25%, in an effort to support the European industry and counter global competition.
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