European Union lawmakers and member states agreed to double tariffs on foreign steel on Monday, April 13th to shield the bloc’s struggling industry from a flood of cheap Chinese exports.
EU governments and the European Parliament’s elected representatives reached a late-evening deal to hike levies on steel imports to 50% and slash the volume allowed in, before tariffs apply. by 47%.
Maroš Šefčovič, the EU’s trade chief, commented:
The shape and global standing of Europe’s steel sector are fundamental to our strategic autonomy and industrial strength. We, therefore, cannot afford to turn a blind eye to global overcapacity reaching critical levels.
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