The European Parliament formally approved a new set of steel trade policies, which will officially take effect on July 1, 2026, aiming to ease the pressure brought by global steel overcapacity on the European market. According to the new rules, the annual duty-free import quota for steel products will be reduced by 47% to 18.3 million tons, a sharp drop compared with 34.5 million tons in 2024. For steel products exceeding the quota, the import tariff will be raised to 50%, twice the previous 25%. In addition, the EU has added stricter product origin verification procedures to prevent some traders from evading trade restrictions through transshipment. Statistics show that the European steel industry has lost nearly 100,000 jobs since 2008 due to the continuous impact of low-price imported steel. The new policy is expected to protect the survival and development space of local steel enterprises.