Brussels Imposes ‘Trump-Style’ Tariffs on Cheap Chinese Steel

The EU plans to join the US and Canada in tackling cheap Chinese steel imports by nearly halving import quotas and imposing tariffs of up to 50% on foreign steel. The measures aim to protect European industry and align with the actions of American and Canadian partners.

Source Financial Times

However, the new restrictions have raised concerns among some EU countries and carmakers that curbing cheap imports could drive up prices and fuel inflation. Automotive industry representatives have already called for the measures to be temporary and subject to review.

Last year, the EU imported 28mn tonnes of steel, representing a quarter of the bloc’s total sales. In 2024, the steel sector lost 18,000 jobs, while another 300,000 direct and 2.3mn indirect jobs are now at risk.