June 30, 2026
The trade bloc is also reducing its quota of tariff-free steel imports, as trade tensions mount with Beijing. The EU’s goal is to reduce its near-$400 billion annual trade deficit with China. However, the move could hurt other steel exporters with whom the EU has solid relations, including the UK, Ukraine, and Japan. Brussels isn’t the first to make such a move: the Trump administration introduced a global steel tariff last year.
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