French Industry Minister Marc Ferracci has proposed a new initiative for comprehensive EU trade measures on steel imports. The initiative aims to ensure the long-term competitiveness of the European steel industry and steel capacity utilization close to the 85% target set by the EC in its action plan for steel and metals. The informal document was supported by 11 EU member states. It outlines a roadmap for replacing the protective measures currently in place. The proposal calls on the EC to develop and present a new system well before the expiry of the current protective measures (June 2026), preferably from the beginning of next year, to ensure a smooth transition and protection of the European market. Among the key proposals are the following: The new system should take the form of a tariff quota system with flexible volumes to adapt to changes in Europ...

The Trade Commission has proposed provisional tariffs ranging from 28.16% to 33.57%   The South Korean Trade Commission (KTC) has recommended that the Ministry of Economy and Finance impose preliminary anti-dumping measures on imports of hot-rolled carbon and alloy steel (HRC) from China and Japan. This was reported by Mysteel Global. The KTC investigation was launched in March this year based on a complaint filed by Hyundai Steel. The company claims that the influx of cheap Chinese and Japanese hot-rolled steel has damaged the local steel market. KTC recommended imposing preliminary anti-dumping duties ranging from 31.58% to 33.57% on Japanese HRC and from 28.16% to 33.1% on Chinese products. The Ministry of Finance will decide whether to apply preliminary anti-dumping measures by the end of August this year. Recall that at the...

US tariffs of 50% on steel and aluminum imports are not part of the agreement US President Donald Trump has announced that he has reached a major tariff agreement with Japan, one of the country’s largest trading partners, according to the BBC. Under the agreement, Japan will invest $550 billion in the United States and pay a reciprocal tariff of 15%, Trump wrote on social media. The US president added that Japan will open its economy to American goods, including cars, trucks, rice, and some agricultural products. Japanese Prime Minister Shigeru Ishiba explained that the investment package in the US includes loans and guarantees from institutions affiliated with the Japanese government for the announced amount to allow Japanese firms to build sustainable supply chains in key sectors such as pharmaceuticals and semiconductors. He also sai...