Is Europe About to Slam the Door Shut on Cheap Steel Imports?
In September, the European Steel Association (Eurofer) plans to introduce a proposal for an early and intensified safeguard system on imports. According to director Axel Eggert, this would replace the current general safeguard system used by the steel industry.
Eurofer stated that the proposed system includes stronger tariff-rate quota (TRQ) protections for European producers, with consistent enforcement across all exporting countries. The trade body added that the TRQs would apply to all steel categories, including downstream and derivative products.
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Steel Industry Tariff Agreements Still Yet to Be Reached
Eggert made the statement on July 4 in Luxembourg City during an event marking Eurofer’s 75th anniversary. He also noted that the European Union and the United States remain far from reaching a zero-tariff agreement, the deadline for which was July 9. As a result, he warned that steelmakers in the 27-member bloc are likely to face tariffs of at least 25%.
On July 6, the United States offered the EU a 10% baseline tariff deal on all goods from the bloc, although it gave no indication that the deal would include steel and aluminum. Two days later, President Trump confirmed that he would not extend the August 1 deadline for implementing the tariffs, which he initially announced in March. Although the tariffs were originally set to take effect on April 9, Trump postponed the implementation date to mid July.
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Amid Tariffs, the EU Steel Industry Also Bracing for the CBAM
In addition to his statements on the EU steel industry, Eggert also warned that Asian steelmakers could easily absorb the 25% tariffs currently imposed by the EU. He also added that Trump’s decision in May to double U.S. steel import tariffs to 50% could divert more cargoes to Europe.
Domestically produced hot-rolled coil was available in late June at €545–550 ($640–645) per metric ton ex-works, down from about €570 ($670). The price drop partly reflects efforts by mills to secure business ahead of the Carbon Border Adjustment Mechanism, which will take effect on imports in January 2026.
In contrast, mills in Southeast Asia are currently offering prices closer to €470–480 ($550–560) per metric ton cost and freight to European ports.
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