Banana trade Uganda - Image by Beat Roth from Pixabay

The EU’s Generalised Scheme of Preferences (GSP) is a trade policy tool that reduces or removes import duties on goods from developing countries, helping European businesses access cheaper raw materials and products while supporting sustainable development abroad.

Sefcovic - Sejourne - Photo © European Union 2025

The EU Commission has set out a proposal to protect the EU steel sector from unfair impacts of global overcapacity, reducing tariff-free import volumes by nearly half and doubling the level of out-of-quota tariffs to 50 per cent.