Interview Guidance Program (IGP) for UPSC CSE 2024, Registrations Open Click Here to know more and registration
Tata, EU steel firms brace for tariff war
News:
- US will extend imposition of 25% tariff on steel and 10% tariff on aluminum imports from the European Union, Canada and Mexico.
Important facts:
- This trade action brings an end to potential exemptions and raises the risk of trade war.
- Due to tariff U.S steel and aluminium industries aimed to increase their capacity by 80%.
- US has also threatened to impose car tariff on car imports and will take actions against Beijing for stealing its technology by imposing tariffs.
- EU’s steel producers will be particularly injured by the tariff.
- The tariffs are criticized as unjustified and against the rules of World Trade Organisation.
- EU would announce imposition of additional duties on a number of imports from US.
- The Tariff war will distort steel market.
Discover more from Free UPSC IAS Preparation Syllabus and Materials For Aspirants
Subscribe to get the latest posts sent to your email.
