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EU proposes halving steel import quota and doubling out-of-quota tariffs to 50%
The European Commission has moved to cut free-trade quotas by 47 percent for steel and steel products and to double out-of-tariff import duties to 50 percent, taking a leaf out of US President Donald Trump's protectionist playbook. It's a way to protect the continent's struggling industry in the face of Trump's disruptive trade policy and global oversupply of the metal. Meanwhile, Trump hosts Canada's Prime Minister Mark Carney as the two sides hope to work out a trade deal.
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By FRANCE 24 EnglishThe European Commission has moved to cut free-trade quotas by 47 percent for steel and steel products and to double out-of-tariff import duties to 50 percent, taking a leaf out of US President Donald Trump's protectionist playbook. It's a way to protect the continent's struggling industry in the face of Trump's disruptive trade policy and global oversupply of the metal. Meanwhile, Trump hosts Canada's Prime Minister Mark Carney as the two sides hope to work out a trade deal.