EU Boosts Steel Protections With 50% Levy to Aid Industry
A worker collects a sample of molten steel from a blast furnace at a steel plant in Duisburg, Germany.
Photographer: Alex Kraus/BloombergThe European Union unveiled fresh tariffs on Tuesday meant to shield its ailing steel sector, taking a page from Donald Trump’s protectionist playbook.
The European Commission, the EU’s executive arm, proposed 50% tariffs — twice the current rate — on all steel imports above a quota that will be cut by roughly 45%, confirming Bloomberg’s previous reporting.