Europe’s steelmakers rip into revamp of import controls

BRUSSELS: The European Union (EU) steel industry lashed out at the EU’s trade authority for failing to slash import quotas in a planned revamp of them, saying producers in the bloc risk going bust.

The European Steel Association and chief executive officers of EU-based manufacturers took aim at the bloc’s proposed changes to the administration of import controls introduced two years ago. The curbs, known as “safeguard” measures, are meant to prevent a controversial 25% US levy on foreign steel from diverting global shipments to the EU market and flooding it.