US, EU Seek to Curb China’s Steel Power Play With New Tariffs

China is in the crosshairs of proposed new tariffs from the US, EU that target countries producing more steel than the market demands.

A worker trims a newly-cast steel slab at the NLMK Indiana steel mill in Portage, Indiana, on March 15, 2018. Chinese overproduction and dumping tactics lost thousands of jobs for the U.S. steel industry, say experts. Scott Olson/Getty Images

The United States and the European Union are negotiating an agreement to impose new tariffs aimed at excess steel production.

The new tariff measures would primarily target steel imports from China, according to a Sept. 6 Bloomberg report. They aim to restabilize global steel markets and supply chains disrupted by China’s overcapacity and dumping of steel on the global market.