EU plans higher tariffs to save European steelworkers' jobs
DW News · Just In
DW News
Just In
For years, the European Commission was a strong advocate of free trade and low tariffs — at least when it came to industrial goods. But now, Brussels is shifting course and wants to increase tariffs on steel imports from around the world.
Breakdown
- The European Commission plans to raise tariffs on steel imports, especially from China.
- Tariff-free steel import quotas would be reduced from 30.5 million to 18.3 million tons per year. 29s
- Imports above the new quota would face a 50 percent tariff, up from the current 25 percent. 37s
- Industry associations warn the tariffs could raise costs for manufacturers, including carmakers. 1m 23s
- The proposed rules need approval from the European Parliament and EU member states to take effect. 2m 8s
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Global Tariffs
Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.