Stricter steel rules apply from July - Swiss companies affected

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• The EU is tightening its protective measures for steel imports from July 1.
• The duty-free import quotas will be significantly reduced, outside of which 50 percent duty will apply in future.
• Switzerland is affected and is negotiating exemptions with Brussels.

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The EU has decided on stricter protective measures for steel products. After the European Parliament, the Council of Member States approved a corresponding regulation by a large majority on Monday. The measure also affects the Swiss steel industry.

The new regulation comes into force on July 1 and replaces existing measures, as the Council announced on Monday. 25 of the 27 member states approved the amendment in Luxembourg, according to the voting protocol.

The new measures provide for a reduction in duty-free quotas of around 47 percent. It will still be possible to import 18.3 million tons of steel duty-free into the EU each year. Duties of 50 percent will be imposed on steel outside the quotas from next month. Previously, these duties amounted to 25 percent.

Switzerland is also affected by the stricter measures. Negotiations are currently underway between Bern and Brussels to negotiate duty-free quotas for Swiss steel, according to the latest information from the European Commission.