India’s Commerce and Industry Minister Piyush Goyal warned EU rules could raise costs for European industry and consumers and invite reciprocal trade barriers, as the bloc expands protections for steelmakers.
ANI and PTI reported the remarks after Goyal spoke Thursday, Oct. 22, at the Berlin Global Dialogue. The forum agenda listed him in the session “New Era, New Alliances: The Third Path?” PTI reported that he described the measures as “inviting disaster,” while ANI said he warned that other countries could answer with restrictions that hurt European businesses.
ANI also reported that Goyal argued a growing regulatory burden could make European industry less competitive. His comments addressed two distinct trade measures, rather than a single charge on steel.
The European Union’s Carbon Border Adjustment Mechanism (CBAM) entered its definitive phase Jan. 1, 2026, according to the European Commission. The scheme covers six sectors, including iron and steel; importers must declare embedded emissions and surrender certificates priced in line with allowances under the EU Emissions Trading System. The Commission says CBAM is intended to price embedded emissions and address carbon leakage.
The separate steel safeguard took effect July 1 and sets annual duty-free quotas of 18.3 million tonnes across 30 product categories. The 50% duty applies once the relevant quota is exhausted, and imports from European Economic Area countries are excluded, the Commission says. It says the measure is intended to protect EU steelmakers from excess global capacity and trade diversion.
A day earlier, German Chancellor Friedrich Merz called for faster EU trade defenses against market distortions at the same forum.
India’s government said Goyal’s official visit to Germany and the Netherlands runs through Oct. 27, with about 100 businesses and startups accompanying him.
