Headlines
Swiss industry flags concern over EU steel tariffs, presses for exemptions
Published by Global Banking and Finance Review
Posted on October 8, 2025
2 min readLast updated: January 21, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on October 8, 2025
2 min readLast updated: January 21, 2026
Swiss industry voices concern over EU's steel tariff plans, urging exemptions to protect manufacturers and maintain trade relations.
ZURICH (Reuters) -Swiss industry on Wednesday raised concern over the European Union's plans to cut tariff-free steel import quotas by almost half and to set a 50% tariff for excess shipments, urging the bloc to make exceptions for Switzerland.
Industry association Swissmem said curbs on free trade would hurt Swiss manufacturers, which are already facing far steeper U.S. tariffs under the Trump administration's efforts to re-order global trade than their counterparts inside the EU.
EU steel is currently protected by safeguards that cap imports of 26 steel grades, with 25% tariffs above those limits. They have steadily risen each year despite declining demand and under World Trade Organization rules must expire in mid-2026.
"We're concerned about the planned reduction in duty-free steel quotas to the EU," a Swissmem spokesperson said.
"If the EU doesn't grant Switzerland duty-free quotas on a similar scale to what there currently is, the steel industry in Switzerland will have a major problem."
The group called for a negotiated solution and said even at 25% tariffs, companies cannot compete in the EU market.
Switzerland and the EU are in the process of approving a new deal to deepen trade ties, and any disputes over tariffs between the two risk complicating those efforts.
Steelmaker Swiss Steel said it is still analysing the EU's planned measures but that it was important that Switzerland be exempted from such measures.
Aside from Swiss Steel and peer Stahl Gerlafingen, dozens of other Swiss firms export processed steel to the EU.
(Reporting by Oliver HirtEditing by Dave Graham, Alexandra Hudson)
The article discusses Swiss industry's concerns over EU steel tariffs and their impact on trade relations.
Switzerland fears the tariffs will harm its manufacturers and complicate trade relations with the EU.
Swissmem calls for exemptions and negotiated solutions to avoid harming Swiss manufacturers.
Explore more articles in the Headlines category
