[Global Times Reporter Ni Hao] The EU plans to significantly reduce duty-free quotas for imported steel and increase tariffs on parts exceeding the quotas to 50%. This protectionist move is believed to follow the example of the U.S. government and has caused great concern to countries such as Britain and South Korea.

The unprecedented measures announced by the EU on July 7 include cutting annual tariff-free quotas for foreign steel imports to the EU by 47% to 18.3 million tons, and partially doubling the tariff from 25% to 50% over the quota.

Sejournet, executive vice president of the European Commission in charge of industrial strategy, said before announcing the above plan, "The European steel industry is on the verge of collapse. We will protect it so that it can invest, decarbonize, and thus regain competitiveness." According to reports, the above proposals must be approved by the European Parliament and the 27 EU member states, and the European Commission hopes to implement these measures as soon as possible.

Hong Kong's South China Morning Post stated that the EU did not name China, saying tariffs and quotas would apply to global imports. But an anonymous EU official declared that "China is by far the biggest problem" for the EU steel industry. According to the British "Financial Times" report, the EU is trying to tie it with the United States through anti-China steel measures. "This proposal... will be a very good basis for our engagement with the United States, and we can use it to show that we now have a very strong steel industry protection system." "This allows us to start discussions with the United States on isolating overcapacity," a senior European Commission official said.

China steel has always been the EU's trade protectionism focus targeted field, before the Ministry of Commerce spokesman Hoyandong said that the EU has long implemented various trade restrictions on imported steel products, making the EU's steel market the world's most trade barriers and one of the highest product prices markets.Hoyandong believes that these actions of the European side seriously disrupt the international trade order, boost downstream production costs, harm consumer interests, and also not conducive to the stability of the global supply chain and the long-term development of domestic industry and the healthy operation of the market.

Li Kai, an associate professor at Shanxi University of Finance and Economics, said in a recent interview with Sputnik News Agency that the proportion of China's steel exports to the EU has shown a downward trend in recent years, and the proportion of China's total steel exports has dropped to about 3%. He believes that at present, China's steel exports are not too dependent on the markets of developed countries, and even if the EU imposes tariffs, the impact on China's steel exports will be limited.

The EU's proposed tariff measures sparked protests from the UK and South Korea. Gareth Stace, Director-General of the British Steel Industry Association, said on the 7th:"This may be the biggest crisis the British steel industry has ever faced." Reports said that the UK may seek exemption from the EU, but does not rule out taking retaliatory measures. According to South Korean media reports, the EU is South Korea's largest export market for steel, and the entire industry is expected to face tremendous pressure. Officials from South Korea's Ministry of Industry, Trade and Resources will meet with European Commission Trade and Economic Security Commissioner Shevcovic to express South Korea's position and concerns.