The European Union has announced that it plans to double tariffs and halve the amount of foreign steel it imports saying European “sovereignty is at stake.”

The EU said that it is planning a supersized 50 per cent tariff to be imposed from next year. That is twice the tariff being imposed by US President Donald Trump. The measure will come as a double blow to Australian steel producers who export to both markets.

Australian steel exports to the European Union were valued at €142 million ($251 million) in 2024, according to official statistics compiled by the EU.

The EU is responding to oversupply from China and fears that even more cheap steel flooding the European market, following the United States’ tariffs on steel imports, worth 25 per cent, aimed at protecting American manufactur

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