Image source, ReutersByOllie SmithBusiness reporterPublished7 October 2025 The EU has announced plans to hike tariffs on imported steel in a move the UK's steel industry has said could be "perhaps the biggest crisis" it has ever faced. The commission has set out plans to cut the amount of steel that can be imported into the bloc by half – beyond which the new 50% tariffs will apply. The EU is the UK's most important export destination for steel, worth nearly £3bn and representing 78% of steel products made in the UK for overseas markets. The commission has come under pressure from some member states and their steel industries, which have been struggling to compete with cheap imports from countries like China and Turkey. The EU is proposing to reduce tariff-free quotas for imports to 18.3 million tonnes a year – a 47% reduction from 2024 levels. The new measures will come into force early next year, but will first need to be approved by the majority of EU member states and the European Parliament.
Published: October 7, 2025 5:09 pm
Source: BBC — Read original