EU Considers Measures to Mitigate Steel Tariff Impacts

The European Union investigates different methods to reduce the negative effects of U.S. tariffs and Chinese steel overcapacity on its domestic steel industry. The EU is evaluating a total ban on Russian steel imports because they represent three to four million tons of annual imports. Thyssenkrupp executive board member Ilse Henne stressed that the EU should use all available defense instruments to support its steel industry.
The EU works to establish a trade agreement with India to gain better market access for its steel exports. The European market faces concerns about potential Indian steel flooding similar to the Chinese steel impact.