EU Proposes Steel Tariffs, Norway Warns of Job Losses
The EU proposes 50% tariffs on excess steel imports while cutting quotas by 47%. Norway's Prime Minister warns this could cost 2,000 Norwegian jobs and violates trade agreements. The moves signal rising protectionism in global trade.
The European Commission wants a 50% tariff on steel imports that exceed quotas. EU Commissioner Stéphane Séjourné announced the plan this week. Steel import quotas will drop to 18.3 million tons. This represents a 47% reduction compared to 2024 levels.
Former US President Donald Trump posted on Truth Social about his own tariff plans. He wants 25% tariffs on all medium and heavy trucks imported to the United States.
Norwegian Prime Minister Jonas Gahr Støre met with EU Commission President Ursula von der Leyen in Copenhagen. They discussed the EU's planned protection measures for steel and iron industries. Støre expressed concern about proposed tariffs on ferrosilicon. This material is used in steel production and comes from non-EU countries.
The Prime Minister said these tariffs could threaten 2,000 Norwegian jobs. He believes the proposal violates the EEA agreement. This agreement normally gives Norway full access to EU markets. Støre emphasized that Norway must be heard in this decision.
These tariff proposals show how trade protectionism is rising globally. Norway faces a difficult position as a non-EU country with close economic ties to the bloc. The country must balance its relationship with Europe against protecting domestic industries.