Global Steel Overcapacity Sparks EU Tariff Adjustments
Tariff-free imports restricted to 18.3 million metric tons effective July 1.
OECD predicts 721 million tonnes of global steel overcapacity by 2027.
Tariffs doubled to 50% beyond quota limits.
Ukrainian steel exports could drop 50% compared to 2025.
70% of historic trade flows covered, still affecting 30% of current trade.
EU member Karin Karlsbro criticized decision as harmful to Ukraine.
Ukraine may access second quota, but faces competition from India and Turkey.
UK-Ukraine trade agreement allows 0% tariffs for Ukrainian steel starting 2026.
2 hours ago