Brussels, April 2026 — The EU confirmed it will cut steel import quotas by 47% and raise over-quota tariffs to 50% starting July 1, 2026, replacing expiring 2018 safeguards. The move aims to protect EU producers from cheap imports amid persistent global oversupply (~650 Mt). It follows similar measures in the US (37% import drop YoY) and UK. The EU also advances CBAM carbon levies, adding ~€56/t cost for high-emission imports.