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EU to double steel tariffs amid influx of Chinese imports
The EU aims to protect 300,000 steel sector jobs by cutting tariff-free imports almost 50% and doubling tariffs to 50%, targeting Chinese overcapacity and unfair competition.
- The European Union plans to implement a 50 percent tariff on steel imports, as confirmed by Prime Minister Keir Starmer, which could harm the British steel industry.
- UK Steel's director general, Gareth Stace, described the potential tax on steel imports as 'devastating' for the industry, noting a rapid rise of protectionist trade measures worldwide.
- The UK Government is seeking urgent clarification from the European Commission regarding the impact of these tariffs to support the steel industry and protect jobs.
- EU Commissioner Stephane Sejourne stated that Europe is reducing steel imports to 'save our European steel plants and jobs.
197 Articles
197 Articles
Korea's steel industry at a crossroads
The European Union announced a sweeping revision of its steel import safeguard measures: It will reduce the global duty-free import quota by half and double tariffs on imports exceeding that quota from 25 percent to a steep 50 percent. This move, following a similar U.S. decision earlier this year, signals a rising tide of protectionism among major economies. For Korea, the world's sixth-largest steel producer and a major global exporter, this d…
The European Commission is taking a protectionist approach to preserve its steel industry, which is seriously threatened, particularly by the influx of Chinese steel at broken prices. However, a truly ambitious policy of reindustrialization is not on the agenda in Brussels, according to the deputy Republican and Socialist Left (GRS) Emmanuel Maurel.
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