Europe Agrees 50% Steel Tax, Cuts Import Quotas

Written by Martin Lynch, European News Editor for IIR News Intelligence (Sugar Land, Texas)SummaryNew measures to protect Europe's steel industry from global oversupply have been agreed by the European Parliament and Council.The European Commission's (EC's) plan to slash steel import quotas and double the custom duties to 50% have been cleared by the European Parliament and Council.The measures were proposed late last year to counter the negative effects of the global steel surplus on Europe's s