The European Union has finalised a landmark steel trade regulation to replace its expiring safeguard measure from July 1, 2026. The new rules cut tariff-free import quotas by 47% to 18.3 million metric tons per year and double the out-of-quota duty to 50%. Importers must now prove where steel was first melted and cast. The European Parliament votes on the text on May 18, 2026, with the law expected to take immediate effect if adopted without changes.