EU's Steel Industry May Win Import Limits Opposed by Carmakers
- European trade chief signals curbs to be imposed by mid-July
- Bloc fears that U.S. tariffs may divert steel shipments to EU
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The European Union steel industry may come out on top of EU carmakers in a fight over possible curbs on the bloc’s imports of the metal, the latest evidence of the domino effect caused by U.S. President Donald Trump’s protectionism.
European trade chief Cecilia Malmstrom 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 U.S. as a result of its 25 percent steel tariff, which Trump imposed in March on national-security grounds dismissed by the EU and other countries.