{"id":63982,"date":"2026-06-30T04:38:18","date_gmt":"2026-06-30T08:38:18","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/eu-implements-aggressive-steel-tariffs-arcelormittal-expands-buyback\/63982\/"},"modified":"2026-06-30T04:38:18","modified_gmt":"2026-06-30T08:38:18","slug":"eu-implements-aggressive-steel-tariffs-arcelormittal-expands-buyback","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/eu-implements-aggressive-steel-tariffs-arcelormittal-expands-buyback\/63982\/","title":{"rendered":"EU Implements Aggressive Steel Tariffs; ArcelorMittal Expands Buyback"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>The European Union will slash tariff-free steel imports by 47%<\/strong> starting July 1, 2026, imposing a <strong>50% out-of-quota duty<\/strong> on 26 product categories to combat global overcapacity.<\/li>\n<li><strong>ArcelorMittal (<a href=\"\/stock\/MT\">MT<\/a>)<\/strong> has launched the second tranche of its 2025-2030 share buyback program, targeting up to <strong>10 million shares<\/strong> following the completion of its first \u20ac493 million tranche.<\/li>\n<li><strong>German regional inflation cooled significantly in June<\/strong>, with major states like North Rhine-Westphalia and Baden-W\u00fcrttemberg reporting annual CPI drops to <strong>2.1%<\/strong>, easing pressure on the ECB.<\/li>\n<li><strong>Hyundai (<a href=\"\/stock\/HYMTF\">HYMTF<\/a>)<\/strong> issued a recall for over <strong>96,000 SUVs<\/strong> (2025-2026 Tucson models) due to a software glitch that causes instrument panels to go blank while driving.<\/li>\n<li><strong>Abivax (<a href=\"\/stock\/ABVX\">ABVX<\/a>)<\/strong> shares surged <strong>27%<\/strong> after reporting positive Phase 3 data for its ulcerative colitis drug, obefazimod, showing high remission rates in refractory patients.<\/li>\n<\/ul>\n<h2>EU Tightens Steel Borders to Counter Overcapacity<\/h2>\n<p>The European Union is set to implement a sweeping new regulatory framework for steel imports effective <strong>July 1, 2026<\/strong>. The measures replace previous safeguards and establish a strict <strong>18.3 million tonne annual tariff-free quota<\/strong>, a <strong>47% reduction<\/strong> from 2024 levels. Imports exceeding these limits will face a steep <strong>50% duty<\/strong>, doubling the previous rate of 25%.<\/p>\n<p>To prevent tariff circumvention, the EU will introduce rigorous <strong>&quot;melt and pour&quot; traceability rules<\/strong> starting October 1, 2026. These rules require importers to provide documentary evidence of the steel&#39;s original origin. The quota allocation is split, with <strong>half reserved for Free Trade Agreement (FTA) partners<\/strong> and the remainder available to all other trading nations.<\/p>\n<h2>ArcelorMittal (<a href=\"\/stock\/MT\">MT<\/a>) Boosts Shareholder Returns<\/h2>\n<p>Steel giant ArcelorMittal (<a href=\"\/stock\/MT\">MT<\/a>) announced the immediate commencement of the second tranche of its <strong>2025-2030 share buyback program<\/strong>. This follows the successful completion of the first tranche, which saw the company repurchase <strong>10 million shares<\/strong> at an average price of <strong>\u20ac49.32 per share<\/strong>.<\/p>\n<p>The new tranche authorizes the buyback of an additional <strong>10 million shares<\/strong>. This move aligns with the company\u2019s policy to return at least <strong>50% of post-dividend annual free cash flow<\/strong> to shareholders. ArcelorMittal (<a href=\"\/stock\/MT\">MT<\/a>) intends to cancel the repurchased shares to reduce its total share capital.<\/p>\n<h2>European Inflation Eases as BOJ Signals Caution<\/h2>\n<p>Inflationary pressures in the Eurozone&#39;s largest economy showed signs of cooling as several German states released June CPI data. <strong>North Rhine-Westphalia<\/strong> and <strong>Baden-W\u00fcrttemberg<\/strong> both saw annual inflation drop to <strong>2.1%<\/strong> (down from 2.4% in May), while <strong>Bavaria<\/strong> eased to <strong>2.5%<\/strong>. Conversely, Italy\u2019s preliminary May PPI rose to <strong>7.3% year-on-year<\/strong>, indicating lingering wholesale price volatility.<\/p>\n<p>In Japan, Bank of Japan (BOJ) board member <strong>Ayano Sato<\/strong> emphasized the need to balance <strong>downside risks to growth<\/strong> with <strong>upside risks to inflation<\/strong>. Sato noted that while a weak Yen boosts exports, it significantly pressures household income via higher import costs. Markets are closely watching for a potential rate hike in the July meeting as underlying inflation remains near the <strong>2% target<\/strong>.<\/p>\n<h2>Corporate Briefs: Hyundai Recall and Abivax Breakthrough<\/h2>\n<p>Hyundai (<a href=\"\/stock\/HYMTF\">HYMTF<\/a>) is recalling approximately <strong>96,310 Tucson SUVs<\/strong> from the 2025 and 2026 model years. The National Highway Traffic Safety Administration (NHTSA) warned that a software logic error could cause the <strong>instrument panel to reboot<\/strong> or go blank, depriving drivers of speed and fuel information. The company plans to fix the issue via a free software update or an over-the-air (OTA) transmission.<\/p>\n<p>Biotech firm Abivax (<a href=\"\/stock\/ABVX\">ABVX<\/a>) saw its stock price rocket <strong>27%<\/strong> following positive topline results from its <strong>Phase 3 ABTECT maintenance trial<\/strong>. The study revealed that <strong>37.2% of refractory ulcerative colitis patients<\/strong> achieved clinical remission using a 50mg dose of obefazimod. The company remains on track to submit a New Drug Application (NDA) to the <strong>U.S. FDA in Q4 2026<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways The European Union will slash tariff-free steel imports by 47% starting July 1, 2026, imposing a 50% out-of-quota 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