US EditionEU to double steel tariffs amid influx of Chinese imports
The EU aims to protect 300,000 steel sector jobs by imposing 50% tariffs and cutting duty-free import quotas by 47%, targeting unfair competition and global overcapacity.
- The European Union proposed cutting steel import quotas by 47% and adding a tariff of up to 50% on imports exceeding that quota from countries like China and India.
- European Commission President Ursula von der Leyen emphasized that a strong, decarbonized steel sector is crucial for the EU's economic security and competitiveness, citing the harmful effects of global overcapacity on the industry.
- The proposed tariffs and quotas must be approved by EU member states and the European Parliament, with discussions on their impact and coordination with the US ongoing.
95 Articles
95 Articles
Brussels is taking action mainly because of fears of dumped Chinese steel, which can no longer enter the US.
The Independent
perspectivemedia.comGovernment ‘in discussions’ with EU over steel tariff hike – Starmer
The European Commission is effectively planning on matching the levy Donald Trump imposed on the EU.
It wants to reduce the duty-free steel import limit and double the duty outside this quota.
Economy faces 'devastating' 50% tariffs from EU as Keir Starmer confirms 'UK is in discussions'
Prime Minister Keir Starmer has confirmed the UK Government is "in discussions" with the European Union after the economic bloc announced plans to implement 50 per cent on steel, which could threaten British industry
Cheap competition by steel from China has long been seen as a problem in Europe. Why is the industry considered to be so worthy of protection? And what about the domestic manufacturers? By A. Leimbach.
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