EU moves to limit steel flooding in due to US tariffs

BRUSSELS — The European Union says it is introducing new measures to prevent steel produced for the U.S. market from flooding into Europe instead because of tariffs introduced by President Donald Trump.

The EU's executive Commission said Friday that "imports of steel products into the EU have been increasing sharply" since Trump's move and that "this is seriously threatening EU steelmakers."

It said the safeguard measures enter force Saturday and "concern 26 steel product categories and consist of tariff-rate quotas above which a duty of 25 percent will apply."

Trump imposed tariffs of 25 percent on steel imports and 10 percent on imported aluminum on June 1, 2018. He said the move was to protect U.S. national security interests. Other countries claim it is protectionism and breaks global trade rules.

People also read these

Dahlmeier powers to third gold medal at biathlon...

Feb 15, 2017

US-BIATHLON-WORLD:Dahlmeier powers to third gold medal at biathlon Worlds

Alpine skiing: Hirscher wins his first giant...

Feb 17, 2017

US-ALPINE-WORLD-MEN:Alpine skiing: Hirscher wins his first giant slalom gold

Shipulin holds off Fourcade to give Russia...

Feb 18, 2017

US-BIATHLON-WORLD:Shipulin holds off Fourcade to give Russia biathlon relay title

Dominant Hirscher takes Alpine skiing slalom gold

Feb 19, 2017

US-ALPINE-WORLD-MEN:Dominant Hirscher takes Alpine skiing slalom gold

Weaker euro helps propel euro zone factory growth...

Mar 1, 2017

US-EUROZONE-ECONOMY-PMI:Weaker euro helps propel euro zone factory growth to six-year high

Sign up now!

About Us

The Market Noise is the first place to look when you need financial and economic insights. We deliver the most accurate news in the business and marketing world to you.

Latest News