Global News Of Note: UK Wants To Form A Steel Alliance With EU
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:
- According to Politico, officials in the United Kingdom (UK) are “pushing to form a Western alliance with the European Union (EU) to curb China’s dominance in the global steel market.” (As Politico noted, the proposal is an attempt to help the UK win exemption from the 50 percent tariffs the EU has proposed to impose on trading partners in order to combat overproduction.) The proposal under consideration would align tariff policies and grant members of the pact preferential tariffs on steel trade. One EU official told Politico that while the concept has been circulating for “quite some time,” in today’s landscape the option looks “more appealing.”