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.
The European Union has expressed its satisfaction with the 25% tariffs on steel products initially introduced last year. That increase came in response to the United States' decision to impose levies of their own.
German steel giant ThyssenKrupp has said the European Commission was "too far-reaching and wrong" in blocking a merger with Tata Steel. ThyssenKrupp has filed a complaint against the Commission's decision.
The European Union has slapped countervailing tariffs on imports of subsidized biodiesel from Indonesia. The southeast Asian country has threatened to retaliate but experts say counter tariffs could be self-destructive.
The imminent US tariffs on Chinese goods are expected to throw up some unexpected winners in Europe, a study shows. The gains for the European countries are only likely to increase if China chooses to retaliate.
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