The European Union is poised to implement a series of protective measures in response to escalating trade tensions and a surge in low-cost imports, particularly from China. According to reports from the Handelsblatt, citing senior Brussels officials, the EU Commission intends to introduce substantial anti-dumping duties on Chinese steel and related products within the coming weeks. These tariffs are anticipated to range from 25% to 50%.
Concurrently, the EU is formulating a strategy to link the awarding of public contracts to stipulations favoring European products. Future infrastructure projects, including subway systems, trains and roadways, are expected to utilize “green” steel sourced from within Europe. Furthermore, large corporations and vehicle rental companies are being targeted with quota requirements, encouraging greater preference for European-manufactured electric vehicles in their fleets.
Addressing the evolving economic situation, EU Internal Market Commissioner Stéphane Séjourné stated in an interview with the Handelsblatt that the Union faces a necessity to rebalance its trade relationships. This requires both streamlining internal trade barriers and bolstering the functionality of the single market, alongside implementing protective measures to ensure fair competition with partners who are perceived to be deviating from established regulations. The overall goal is to establish a more stable and equitable trading environment for European industries.