China and Eastern Europe have been “dumping” steel onto the EU market at rock bottom prices. EU steelmakers are calling for higher tariffs. An entire industry is barely scraping by due to low profit margins.
Germany's powerful industry lobby, the Federation of German Industries has warned against unfair market practices in the steel industry. The industry lobby says only a common solution can help bring about stability to the steel industry.
Representatives of the 164 WTO member countries are in Buenos Aires for their biennial meeting. The odds of a breakthrough look grim against the backdrop of Donald Trump's 'America First' policy and discord over China.
Vietnam is hosting this year's Asia Pacific Economic Cooperation (APEC) summit, which gives it an opportunity to tout the benefits of global free trade. But convincing protectionists like Trump remains an uphill task.
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