The European Commission will propose cutting steel import quotas by almost half and raising tariffs on quantities above these quotas to 50%, Reuters reports, citing its sources.
The agency notes that these measures are similar to tariffs imposed by the United States and Canada. This will be part of a new package of protective measures for the steel sector. The official announcement is scheduled for October 7.
On August 21, the EU and the US issued a joint statement outlining all the provisions of the tariff agreement reached in Scotland at the end of July: the imposition of a 15% tariff on all EU exports to the US with minor exceptions, the EU's refusal to impose retaliatory tariffs, and Brussels' commitment to buy US energy resources worth USD 750 billion, electronic chips worth USD 40 billion, invest USD 600 billion in strategic projects, and purchase large quantities of weapons. This is not the final text of the agreement, but only a confirmation of its main provisions.