Topic
Politics EU China

EU to double steel tariffs

2m

The European Commission proposed doubling import tariffs on steel to 50% and halving tariff‑free quotas to curb Chinese imports and align with US measures.

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Reposted by: Daniel Fiott

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by Steve PeersReposted by: Simon Lester

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hhesterm.bsky.social
The domino effect of the us market closing and the goods once going there looking for other markets. Things will get worse.
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simonlester.com
I'm not a fan of tariffs, but if you are going to do them, this is an appropriate way under WTO rules.
kirstenostermann.bsky.social
The proposed measure is fully WTO compliant. Upon receipt of a mandate from the Council, the EU will swiftly engage with affected EU trading partners under the Article XXVIII GATT procedure regarding this change to the EU's WTO tariffs, with a view to offering them country specific allocations.

Reposted by: Holger Hestermeyer

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Reposted by: James Connelly

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simonlester.com
I can imagine WTO complaints being filed by multiple countries against these tariffs. Will be interesting to see how this plays out.

Reposted by: Simon Lester

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kirstenostermann.bsky.social
Eu Commission proposes plan to protect EU steel industry from unfair impacts of global overcapacity.

ec.europa.eu/commission/p...

Reposted by: Holger Nehring

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Reposted by: Simon Lester

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kirstenostermann.bsky.social
The proposed measure is fully WTO compliant. Upon receipt of a mandate from the Council, the EU will swiftly engage with affected EU trading partners under the Article XXVIII GATT procedure regarding this change to the EU's WTO tariffs, with a view to offering them country specific allocations.