Global News Of Note: EU Has Cut The Amount Of Tariff-Free Steel It Will Import
What happens abroad impacts MSCI members in North America. Here is the latest economic, trade, and other policy news of note for the last week:
- As The Wall Street Journal reported, started July 1 the European Union limited the amount of tariff-free steel its member states can import. Specifically, the commission reduced tariff-free steel import volumes by 47 percent to 18.3 million tons. Imports above that quota now face a higher 50 percent levy in 26 categories of steel products. Full details are available at this link.
- On Tuesday, June 16, the European Parliament voted in favor of implementation of a trade deal with the U.S. government that will result in the elimination of tariffs on all industrial goods. In exchange, the United States agreed to cap tariffs on EU imports at 15 percent. Read more about this agreement at this link and at this link.