The European Union is preparing to implement a series of protective measures in response to increasing market restrictions in the United States and a surge of low-cost imports from China, according to reports. The European Commission intends to introduce substantial tariffs on Chinese steel and related products, ranging from 25% to 50%, potentially within the coming weeks. This action is being driven by the desire to address imbalances and safeguard European industries.
Alongside these tariffs, the EU is also formulating policies to prioritize European production in public procurement. Future infrastructure projects, including subway systems, trains and roadways, are slated to utilize “green steel” sourced from within Europe. Furthermore, large corporations and vehicle rental companies are expected to face quotas incentivizing the preferential purchase of European-manufactured electric vehicles for their fleets.
“Europe has no other choice than to find a new equilibrium” stated Commissioner for Industry Stéphane Séjourné in comments to the Handelsblatt. He emphasized the need for reduced internal trade barriers, a fully functional single market and protective measures to rebalance relationships with partners who have seemingly abandoned regulatory compliance. The move signals a shift towards greater self-reliance and a renewed focus on the competitiveness of European industry.
