Global Trade And Economic News
- As Reuters reported, the European Commission has started a review to determine whether a possible extension of steel import restrictions is necessary. The curbs, which are set to expire on June 30, 2021, were introduced in 2018 after the United States imposed 25 percent tariffs on its steel imports. Twelve EU countries – Belgium, Bulgaria, Czech Republic, Finland, France, Germany, Hungary, Italy, Luxembourg, Poland, Slovakia, and Spain EU countries – have requested the extension. The Commission’s investigation will be completed by June 30. The restrictions currently cover steel from the main exporters to the European Union, which include Turkey, Russia, South Korea, India, Ukraine, and China.
- India has initiated a probe to review the need for continued anti-dumping tariffs on certain types of steel products imported from China following complaints from domestic industry. The investigation includes seamless tubes, pipes and hollow profiles of iron, and alloy or non-alloy steel. Click here to read more.