Britain Seeks EU Steel Pact
Britain is pushing to form a Western alliance with the European Union to curb China's dominance in the global steel market.
The idea under consideration is for the U.K. and EU to form a Western steel alliance, potentially including Washington, that would align tariff policies and grant members preferential tariffs on steel trade.
The hope in London is that a coordinated approach could help the U.K. dodge the new tariffs Brussels plans to impose, a 50 percent duty aimed at shielding EU producers from China's industrial overproduction.
Britain is seeking to form a Western steel alliance to counter China's dominance.
- Britain is pushing for a Western alliance with the EU to curb China's steel market dominance.
- The potential alliance could include Washington and align tariff policies.
- The U.K. seeks to avoid EU tariffs, including a 50 percent duty on steel trade.
Britain is currently seeking carve-outs from EU trade measures post-Brexit.
Author's summary: Britain seeks EU pact to counter China's steel dominance.