Framing Analysis
The EU allocated steel import quotas to trading partners on 30 June 2026 after April 2025 legislation raised annual tariff-free quotas to 18.3 million tonnes and set tariffs at 50 percent above that level. The OECD projects global steel overcapacity of 721 million tonnes by 2027. The United States applied 50 percent steel tariffs in 2025, and the EU reduced Switzerland’s duty-free quota.