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%. Trade chief Maros Sefcovic warned global overcapacity threatens Europe’s industrial strength.

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%. Trade chief Maros Sefcovic warned global overcapacity threatens Europe’s industrial strength.