EU proposes to slash steel imports by 15% amid Trump’s 25% tariff hike

As per the European steel producers, the union is already facing issues with high energy prices and competition from Asia and the producers have issued warning that EU risks becoming a dumping ground for cheap steel which could be diverted from the United States and effectively shut Europe’s steel plants.

European Commission Executive Vice-President Stephane Sejourne, in a statement to Reuters said “During a period when nobody is respecting WTO (World Trade Organization) rules and everyone refers to national security…the EU can’t be the only continent that lets its industry fall apart.”

Since US President Trump has imposed a 25% tariff on steel and aluminium imports, the American market is becoming less commercial in a sense and Sejourne said that producers from Canada, India and China would be looking for alternate markets to explore and the countries could look towards Europe to sell increasing volumes.

“We also have the challenge to anticipate future tensions, wars and pandemics and we saw what happened in the past with Russian gas…Let’s avoid that steel tomorrow becomes the gas of yesterday,” Sejourne added.

According to reports, the European Union imported about 60 million metric tons of steel in 2024 and out of which 30 million tons were within the tariff-free quota.

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