Negotiators reached an agreement to address global steel overcapacity in the EU market by implementing lower import quotas, increased custom duties, and improved traceability measures. The aim is to protect the EU steel sector when current safeguards expire in 2026. The agreement must be formally adopted by the Council and Parliament before entering into force on July 1, 2026. The EU steel industry, crucial for the economy and defense capabilities, has faced challenges due to global overcapacity, resulting in job losses.