#CNA EU plans to reduce steel imports by 15% amid US tariffs, competition from Asia

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EU plans to reduce steel imports by 15% amid US tariffs, competition from Asia
The European Union is moving to curb steel imports in a bid to protect the industry from US tariffs and China’s excess steel capacity. The bloc will be reducing steel imports by a further 15% from next month. Officials said a strong European steel market is essential to guarantee the EU’s security and must be protected. The sector contributes more than $80 billion to the EU’s annual GDP, but it faces substantial headwinds such as high energy prices and competition from markets like Asia. William Denselow reports from Brussels.

from CNA

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