India–US Trade Tensions Rise Over Steel and Auto Tariffs NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
The European Commission plans to slash steel import quotas by nearly 50% and introduce tariffs of up to 50% on shipments exceeding those limits.
This move is part of a new safeguard package aimed at defending EU steel producers from global oversupply and rising competition, particularly from Asia.
Commission President Ursula von der Leyen said the framework will align closely with US trade defense measures, highlighting Brussels’ commitment to strengthening Europe’s industrial competitiveness.
While the measures are expected to protect local mills and secure jobs, analysts warn of potential trade frictions with major exporters such as China, India, Japan, and Turkey. The package is scheduled to be formally presented next week.
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