- home
- article
- EU Implements Measures to Limit Steel Imports Amid Market Disruption
EU Implements Measures to Limit Steel Imports Amid Market Disruption
ai generated text
The European Union has announced plans to curb steel imports in an effort to protect its domestic steel industry. This decision comes in response to US President Donald Trump's imposition of 25% tariffs on steel and aluminium imports. The EU aims to reduce steel imports by a further 15% from April, according to European Commission vice president.
US tariffs on aluminium are likely to worsen the situation further given the significant threat of trade diversion from multiple destinations.
On April 1, we will reinforce the current safeguard clause. We're aiming for a drop of up to 15 percent in imports.
Additionally, it remains vital to tackle the high energy costs which make it very difficult for the industry to move forward with significant decarbonisation projects.
This now needs to be supported with rapid action that can put a stop to unfair trade, dumping and resource shuffling.
We are grateful that the Commission has clearly recognised the strategic importance of the European steel industry to the EU's sovereignty, security, and competitiveness.
sources
perspectives
- 1.US under Donald Trump
- 2.Trade Agreement
- 3.European defense
- 4.Multilateralism
- 5.European Energy Market
- 6.German Economy
- 7.Steel industry
- 8.Aluminium Industry
