EC Commission President Ursula von der Leyen has launched the protectionist plan citing “global overcapacity”
The European Commission has proposed a 50% tariff on steel imports above an annual quota, claiming the move will protect the EU’s metals industry from international competition and US duties.
An agreement struck earlier this year by EC President Ursula von der Leyen and US President Donald Trump, viewed in the EU as lopsided, set a baseline 15% US tariff on most exports from the bloc, but left steel and aluminum at 50%.
Von der Leyen’s protectionist measure needs approval from the European Parliament but if passed will significantly…
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