Steel industry in UK warns of 'biggest crisis' ever as EU hikes tariffs
CNBC·2025-10-08 07:05
Steel worker at the blast furnace tap of the at the Salzgitter AG steelworks on March 02, 2020 in Salzgitter, Germany. Maja Hitij | Getty Images News | Getty ImagesThe European Union's decision to hike steel tariffs and sharply cut import quotas has provoked widespread concern in the U.K., as well as rumblings of discontent among carmakers on the continent.The bloc announced plans on Tuesday to reduce tariff-free quotas on imported steel — proposing a reduction of 47% compared to 2024 steel quotas — and to ...