EU tries to limit influx of steel diverted by U.S. tariffs
by The Associated Press
The EU now fears that steel from around the world that would have gone to the U.S. will be diverted to the EU, swamping its market
BRUSSELS—The European Union has announced measures to shield its market from a glut of steel heading to the continent after the U.S. imposed tariffs on imports of the metal.
The Trump administration put tariffs this year on steel and aluminum from several countries, including the 28 of the EU. The EU now fears that steel from around the world that would have gone to the U.S. will be diverted to the EU, swamping its market.
EU Trade Commissioner Cecilia Malmstrom said that “we are left with no other choice than to introduce provisional safeguard measures to protect our domestic industry against a surge of imports.”
Under the measures, the EU will impose tariffs of 25 per cent on 23 categories of products if imports exceed a 3-year average.