[ Markets ]
[ Markets ]
Area |
FTA |
CEPA / CEPA-like or Modern FTA |
Scope |
Mainly trade in goods |
Goods, services, investment, regulatory cooperation and sustainibility |
Tariffs |
Reduced or eliminated |
Reduced or eliminated( often faster and broader) |
Services |
Limited |
Extensive market access |
Investment protection |
Minimal or addressed in separate agreements |
Core chapter included |
Regulatory cooperation
Basic
Deep alignment( Technical Barriers to Trade, Sanitary and Phytosanitary measures, customs)
Sustainability Limited commitments Strong labour & climate rules Legal certainty Moderate High( binding commitments and enforcement mechanism) Duration & depth Relatively limited scope Comprehensive and long-term
Partners
In force: Switzerland, Norway, Iceland, Mexico, Chile, Colombia, Peru, Ecuador, Israel, Morocco, Tunisia, Egypt, United Kingdom( Trade and Cooperation Agreement), Turkey.
Provisional application: Some of the Mercosur countries form a customs union on industrial goods: Brazil, Argentina, Uruguay and Paraguay.
In force: Japan, Vietnam, Singapore, Canada, South Korea.
Under negotiation: India( with a provisional agreement on goods, while negotiations for a broader agreement are ongoing), Indonesia, Thailand, New Zealand, Australia( paused).
Furthermore, stainless steel production is highly concentrated: China accounts for more than 60 % of global crude stainless steel production. Other Asian countries account for approximately 23 % of the remainder. Competitive pressure is therefore particularly intense. At the same time, the level of government intervention in some producing countries, particularly in Asia, can jeopardise those subject to market rules. Stainless steel flat products became and remain a central issue in EU trade agreements.
Following consultations with industry stakeholders, the European Commission has refined its analysis of the stainless steel supply chain. The trade risk assessment now incorporates policies relating to nickel and other critical raw materials, which are subject to structural price and supply volatility. The sector is thus considered within its overall value chain, rather than as a simple product category. Moreover, the implementation of the Carbon Border Adjustment Mechanism( CBAM) and various
European directives following the launch of the Green Deal, strengthens the control of carbon emissions from products entering the Union. In this context, European agreements incorporate an open and rules-based trade approach, while maintaining robust safeguard mechanisms to protect production and sales against market distortions and environmental damage. While tariffs are being progressively reduced, the agreements explicitly preserve each party’ s right to use trade defence instruments in cases of
Country
Industrial share of GDP
Key industrial strengths EU tariff context Ongoing Tariff on Stainless Steel
Japan ~ 27.5 % Automotive, machinery, steel ~ 97 % tariffs eliminated No AD / CVD duties currently applied
South Korea ~ 25.6 % Electronics, vehicles, shipbuilding ~ 98 % tariffs eliminated
No specific AD / CVD on cold-rolled lines now; safeguards may apply
Singapore ~ 21 – 22 % Electronics, chemicals goods largely liberalised
Vietnam ~ 40 % Electronics, textiles, assembly 99 % tariffs eliminated over 7 – 10 years
~ 19.3 % AD + ~ 20.5 % CVD extended for cold-rolled products
India ~ 22 – 25 % + Engineering goods, textiles phased tariff cuts, sensitive lines protected 10 %– 35 % AD + up to ~ 21 % CVD
Indonesia ~ 19 – 20 % Automotive, electronics future tariff phase-out ~ 9.3 – 20.2 % AD + up to ~ 21 % CVD
Thailand ~ 39 % Cars, electronics future tariff cuts planned
Philippines ~ 21 – 22 % Electronics, semiconductors future tariff cuts expected
Malaysia ~ 36 – 37 % Electronics, machinery future tariff liberalisation expected
* Vietnam duties are the extended duties applied by the EU to prevent circumvention of tariffs originally targeting Indonesian imports. AD: Anti-Dumping- CVD: Countervailing Duties
46 Stainless Steel World May 2026 www. stainless-steel-world. net