EU doubles steel tariffs to 50% to curb surge of cheap Chinese imports
EU lawmakers and member states agreed on Monday to double tariffs on foreign steel to 50%, aiming to shield the bloc’s struggling industry from a surge in cheap Chinese imports. The deal also cuts duty-free import volumes by 47% as EU trade chief Maros Sefcovic warned global overcapacity threatens Europe’s industrial strength.
EU lawmakers and member states agreed on Monday to double tariffs on foreign steel to 50%, aiming to shield the bloc’s struggling industry from a surge in cheap Chinese imports. The deal also cuts duty-free import volumes by 47% as EU trade chief Maros Sefcovic warned global overcapacity threatens Europe’s industrial strength.
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