President Lee requested favorable consideration from the EU regarding steel tariffs and TRQ acquisition, emphasizing the impact on Korean industries. Discussions also covered semiconductor and defense cooperation, and carbon border adjustment mechanisms.
South Korean President Lee Jae-myung and Belgian Prime Minister Alexander De Croo agreed to strengthen cooperation in semiconductors and support investment in strategic industries. Discussions with EU leaders also covered security pact negotiations and concerns over EU steel tariffs and carbon border adjustment measures.
UK ministers are considering dropping some planned steel tariffs after manufacturers warned of significantly increased costs. The government aims to balance protecting domestic producers with ensuring secure supply, while also addressing similar EU measures.
The European Parliament has approved a proposal to double import tariffs on steel products to 50% and cut duty-free quotas by 47% to protect the EU's steel industry from cheap Chinese exports. The measures, which aim to combat global overcapacity largely attributed to Chinese subsidies, are expected to take effect on July 1st after final approval by member states.
Reform UK has asked steel industry leaders to draft an alternative strategy that includes abandoning net zero policies, aiming to capitalize on dissatisfaction with the government's industrial and energy policies ahead of local elections.
Agreements would aim to shield British industry from new steel tariffs and stricter rules on electric vehicles due in 2027Downing Street hopes to secure deals on steel and electric cars with the EU as it seeks to upgrade the post-Brexit economic relationship.Amid economic uncertainty caused by the conflict in the Middle East and strains in relations with the US, Keir Starmer is seeking closer economic ties with the EU. Continue reading...
