The European Commission has unveiled sweeping measures to shield the EU’s struggling steel industry from a flood of overcapacity that it says is emanating from China, slashing tariff-free quotas by nearly half and doubling duties on excess shipments to 50 per cent.
To take effect, the plan must be approved by the European Parliament and the European Council, which is made up of the bloc’s 27 member states, and would replace an existing system of safeguards due to expire in June 2026.
The…
