EU's Steel Import Quota Reduction to Impact Ukrainian Economy
The European Union plans to significantly reduce its steel import quota, a move expected to adversely affect Ukraine's steel industry. The quota cut, set to take effect on July 1, will reduce imports by 47% and impose a 50% tariff on excess imports. This decision aims to protect EU manufacturers from global overcapacity and job losses. Ukraine, a major steel supplier to the EU, faces a potential loss of €1 billion in export revenues. The reduction comes amid Ukraine's economic struggles, exacerbated by its conflict with Russia and reliance on foreign aid. 
