Brazil's World Wide Web reported on January 14 that the EU plans to set import quotas for 26 kinds of steel products. The quotas of different countries are different. After the quota is exceeded, the tariff is increased by 25%. The EU will vote on the bill this week. If passed, it will take effect on February 4. Seven Brazilian steel products exported to the European Union, 17 steel products exported from the EU to China, 16 steel products exported from the EU to the EU and 15 steel products exported from the EU to India will be affected.
On January 4th, the European Commission told the World Trade Organization (WTO) that a survey launched in March 2018 showed that imported steel products had a negative impact on the EU market and its competition.
Brazil exports about 15 million tons of steel products each year, with an export value of 9.5 billion US dollars, of which 25% are exported to the EU. In 2017, Pakistan exported 3.9 million tons of EU steel products.
