UK steel exports to EU at risk as bloc doubles tariffs and halves quotas

UK steel exports face a severe threat as the European Union slashes duty-free quotas and doubles tariffs, a measure aimed at China but with major collateral damage. | Contesto: cronaca

Punti chiave

• UK steel exports to EU at risk as bloc doubles tariffs and halves quotas

Contesto

In a move with significant consequences for post-Brexit trade, the European Union has finalized plans to drastically reduce duty-free quotas and double tariffs on steel imports, a policy set to take effect in July. The decision, reached by EU lawmakers and member states during late-night talks on Monday, directly threatens a major export market for British steelmakers. While explicitly designed to curb a surge of Chinese steel, the blunt instrument of sweeping tariff hikes and a 47% cut to overall duty-free quotas leaves UK exporters dangerously exposed, with specific country allocations still to be determined. The policy shift represents a severe tightening of the EU's steel trade defenses, reverting to a stricter regime that was temporarily suspended. By halving the volume of steel that can be imported without incurring a 25% tariff and simultaneously doubling that levy for volumes above the quota, Brussels is aiming to shield its domestic industry from what it perceives as market-distorting global overcapacity. The immediate geopolitical target is clear: to stem the flow of cheaper Chinese steel, which EU producers argue is often subsidized and sold below cost, undermining the bloc's industrial base and its green transition goals. For the United Kingdom, however, the collateral damage could be substantial. The UK steel sector, a historically vital industry now employing tens of thousands, relies heavily on the EU as its largest export destination. Under the post-Brexit Trade and Cooperation Agreement (TCA), UK-EU trade in goods is meant to be tariff-free. However, the EU's steel safeguard measures, which are separate from the TCA, impose these quantitative restrictions. British steel that exceeds the newly reduced UK-specific quota—once it is set—will face the prohibitive 25% duty, making it uncompetitive in the European market and risking the loss of long-standing customer relationships. The timing and ambiguity of the announcement compound the anxiety for industry leaders. With the changes scheduled for July, companies have little time to adjust their production and sales strategies. The critical detail of how the slashed 47% quota will be allocated among...

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Categoria: cronaca