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Steely Strictures Stifle Surplus: Europe's Epochal Edict

The European Parliament voted overwhelmingly on 19 May 2026 to adopt a new steel import regime, effective 1 July 2026. The law halves tariff quota volumes & doubles out-of-quota duties to 50%, replacing the existing safeguard system at its eight-year World Trade Organization limit. Russian steel slabs retain single market access until September 2028 through a semi-finished product exemption. The regulation applies to all trading partners, regardless of free trade agreement status.

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