EU’s steel industry may come out on top as domino effect felt by Trump’s tariffs
European trade chief says EU could limit its imports of steel from around the world within weeks to prevent Europe being flooded by shipments diverted from the US
Brussels — The EU steel industry may come out on top of EU car makers in a fight over possible curbs on the bloc’s imports of the metal, the latest evidence of the domino effect caused by US President Donald Trump’s protectionism. European trade chief Cecilia Malmström said the EU could limit its imports of steel from around the world within weeks. The aim would be to prevent the European market from being flooded by shipments diverted away from the US as a result of its 25% steel tariff, which Trump imposed in March on national-security grounds dismissed by the EU and other countries. While EU-based steel manufacturers such as ArcelorMittal and Thyssenkrupp are pressing for import restrictions to limit the risk of a slump in domestic prices, European automotive producers are warning against such a move. Malmström has opened an inquiry that is due to be completed by year-end and that, in the meantime, allows for the introduction of provisional import limits. "We are seriously contem...
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