International Trade Update No. 14

Click the 'View PDF' option above to read the full Update

The Update covers the European Union’s new Steel Regulations which are effective from today (1st of July 2026). The Regulation will be administered through quarterly country-wise quotas for 26 steel product categories. Once these quotas have been exhausted, a duty of 50% is applicable.

Elaborately discussing the new Regulations, including its background and overall quota allocation, the Update also provides relevant comments by the LKS International Trade Team. According to the Team, since under the new Regulations, FTA partners have a significant advantage over non-FTA countries, Indian exporters must ensure that their products meet the applicable rules of origin