Reported 1 day ago
The European Union has proposed reducing its tariff-free steel import quota by nearly half, imposing significant tariffs on imports from nations like China, India, Turkey, and the UK. This move has alarmed UK steel manufacturers, who warn that it could devastate the British steel industry, which heavily relies on EU exports. The proposal aims to protect Europe’s steel sector from global overcapacity but has raised fears of a trade crisis, with UK officials stressing the need to negotiate quotas to avert disaster.
Source: YAHOO