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 Parliament's International Trade Committee (INTA) has approved the draft report on proposed new steel tariffs and import quotas introduced by the European Commission. This approval paves the way for trilogue negotiations between the Commission, Member States, and Parliament regarding the successor to the EU's safeguard measures on certain steel products, set to expire in June 2026. The proposed tariffs and reduced import quotas, however, have faced significant opposition from steel-consuming industries, particularly small and medium-sized enterprises. Critics argue that the higher tariffs and stricter quotas would further increase production costs, harming the competitiveness of European manufacturers. Moreover, some analysts have likened these tariffs to consumption taxes, where the cost burden is mostly passed on to domestic buyers rather than foreign producers.
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