BRUSSELS: The European Commission unveiled quotas under the new system to limit duty-free steel imports into the European Union, in a move designed to protect the bloc's steel sector and increase its capacity utilisation to 80%.
In the new rules, the EU's annual tariff-free import quotas are slashed by 47% to 18.3 million tonnes, while an out-of-quota duty of 50% is introduced for 26 categories of steel products imported into the EU.
