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Markets

European steel stocks rebound as Trump doubles steel tariffs to 50%

The share prices of European steel companies, including Thyssenkrupp and ArcelorMittal, all rose on Wednesday morning.

USA

EU 'strongly regrets' Trump's 50% steel and aluminium tariff hike

During a rally at a steel plant the US president announced that he will double tariffs on steel imports. Afterwards, he announced the same for aluminium. The measure, which would hit Europe hard, is supposed to come into force on 4 June.

Earth News

India's steel expansion plans could threaten global emissions goals

Steel production is one of the most carbon-intensive industries, responsible for nearly 9 per cent of global greenhouse gas emissions.

Europe News

Winners and losers: The long game of US-EU trade conflicts

The current trade war between the US and the EU is nothing new. Five major disputes have pitted the two economic powers against one another. So how did they turn out?

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Business

Raw materials to keep British Steel plant operating reach the UK

The UK government said on Tuesday that it had bought enough raw materials to keep Britain’s last steelmaking blast furnaces operating for the “coming weeks.”

Business

China warns UK government to treat owners of British Steel fairly

The warning comes two days after the UK government took control of Chinese-owned British Steel using emergency powers.

Economy

Chinese investment in the UK will face 'high trust bar', says minister

Chinese firms will have to fulfil strict criteria when investing in key sectors in the UK in the future, said the UK government after the rescue of British Steel.

Business

UK government not ruling out nationalising key British steel plant

The UK government has faced increasing pressure to preserve the country's own steelmaking industry, in order to reduce dependence on other countries for the metal.

Europe News

EU member states agree first wave of retaliatory tariffs

After several weeks of consultations between member states, EU Commission and industries, the EU adopted retaliatory measures on Wednesday against US tariffs on EU steel and aluminium.

Business

President Trump orders review into Nippon Steel’s bid for US Steel

The two companies sued the US government in January after then president Joe Biden halted the Japanese purchase in the name of national security.

Europe News

EU watching for Chinese steel and electronics imports amid trade war

As reciprocal tariffs kick in, the EU is expecting goods formerly destined for the US to seek EU markets, with Chinese renewables, steel and electronics topping a list of products the Commission is keeping its eye on.

Business

British Steel closes plant after failing to get UK government help

More than 2,000 jobs are at risk as Britain's second-biggest steelmaker failed to get an agreement with the UK government to support further operations.

Europe in Motion

Who are the EU’s top iron and steel trade partners?

Turkey and the US are the biggest export partners.

Europe News

EU plans to reduce steel imports by 15%

The European Commission presented on Wednesday an action plan for the steel and metals industries. In a sector marked by strong international competition, the European executive plans to tighten import quotas with an objective of 15% reduction.

Europe News

EU to tighten controls on steel imports and waste metal flows

The EU plans to tighten controls on steel and aluminium imports to prevent market dumping and restrict countries from blocking waste metal imports.

Europe News

Tariffs: EU hits Trump-voting US states

In its response to the US tariffs on steel and aluminium, the EU is aiming to be 'smart' and hit US Republican-leaning states.

Europe News

EU strikes back against US steel and aluminium tariffs with retaliatory package

European Commission president Ursula von der Leyen announced a response to new US tariffs on steel and aluminium imports, unveiling a package of countermeasures aimed at US exports.

Europe News

Commission touts action plan for steel industry faced with US tariffs

The Commission has pledged an action plan for the steel industry to be launched in mid-March, days after US President Donald Trump's threatened tariffs against the sector are slated to come into force, beckoning the onset of a trade war.

Business

Thyssenkrupp announces lower sales as shake-up plans proceed

Earnings increased despite weaker sales, thanks to the German firm’s efficiency drive. Meanwhile, Thyssenkrupp’s military-related units expect a boost from greater defence spending.

Economy

Countries warn of economic fallout from Trump's steel tariffs

Canadian Prime Minister Justin Trudeau is among the leaders who have hit back at US tariffs. He called them "unjustified" and vowed swift retaliation.