EU plans to reduce steel imports by 15% amid US tariffs, competition from Asia
The European Union is moving to curb steel imports in a bid to protect the industry from US tariffs and China's excess steel capacity. The bloc will be reducing steel imports by a further 15% from next month. Officials said a strong European steel market is essential to guarantee the EU’s security and must be protected. The sector contributes more than $80 billion to the EU’s annual GDP, but it faces substantial headwinds such as high energy prices and competition from markets like Asia. William Denselow reports from Brussels.
The European Union is moving to curb steel imports in a bid to protect the industry from US tariffs and China's excess steel capacity. The bloc will be reducing steel imports by a further 15% from next month. Officials said a strong European steel market is essential to guarantee the EU’s security and must be protected. The sector contributes more than $80 billion to the EU’s annual GDP, but it faces substantial headwinds such as high energy prices and competition from markets like Asia. William Denselow reports from Brussels.
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