Which countries are exempt from the new EU steel import measures?

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Countries Exempt from New EU Steel Import Measures

The new European Union steel import measures will apply to imported products from all countries, with the exception of Iceland, Liechtenstein, and Norway, which are members of the European Economic Area. These updated regulations are designed to protect the bloc's domestic steel industry from a significant influx of lower-priced foreign steel. The agreement reached by EU lawmakers and member states aims to bring greater stability to European producers by addressing global overcapacity.
EEA Members Excluded from New Tariffs

Iceland, Liechtenstein, and Norway, as members of the European Economic Area (EEA), will not be subject to the enhanced tariffs and reduced import quotas. This exclusion is a standard practice within the framework of the EEA agreement, which facilitates a degree of market integration between the EU and these nations. The broader scope of the measures, however, will encompass steel imports from all other countries globally.
Rationale Behind the Measures

The decision to implement these new measures stems from concerns over global overcapacity in steel production, which has reached what EU officials describe as critical levels. This overcapacity is primarily attributed to countries like China, which heavily subsidises its domestic steelmakers, leading to a surge in exports. The EU aims to create a more stable environment for its own steel sector, which is considered vital for the bloc's strategic autonomy and industrial strength.
Details of the New Quotas and Tariffs

Under the agreed-upon deal, the volume of steel that can be imported into the EU tariff-free will be significantly reduced. The import tariff-free quotas will be cut to 18.3 million tonnes per year, a figure based on the total volume of steel imported by the EU in 2013. This specific year was chosen as the EU views the market as having become unbalanced from that point onwards due to excess production. These new measures will replace the existing safeguard scheme, which imposes 25 per cent duties on imports exceeding set quotas and is set to expire at the end of June.

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Which countries are exempt from the new EU steel import measures?

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