The European Union's new steel safeguard regulation takes effect on 1 July 2026, setting annual duty-free import quotas at 18.3 million metric tons and imposing a 50% tariff on volumes above that limit. A new smelting and casting origin rule activates on 1 October 2026, requiring steel's origin to be traced to where it was actually produced, not just processed. The regulation responds to a historic crisis, with European steel capacity falling by over 30 million metric tons since 2018 and utilisation dropping to just 67% in 2024