European Steel Industry: Impact of the Import Quota
| Case Code: ECON092 Case Length: 11 Pages Period: 2018-20 Pub Date: 2020 Teaching Note: Available |
Price: Rs.300 Organization : European Steel Industry Industry :Metals & Mining Countries : Belgium Themes: Macroeconomic Environment/ International Business/ Global Economy;Trading Blocks |
Abstract Case Intro 1 Case Intro 2 Excerpts
Background
The steel manufacturing industry had been one of the key drivers of Europe’s economic growth, providing employment and fostering innovation across the EU member nations. With the availability of more than 500 steel production sites across 24 EU member states, the EU steel sector played a key role in the development of Europe’s wide array of manufacturing, engineering, and construction industries and was viewed as “the backbone for development, growth and employment in Europe.”
EU represented 10% of the global apparent steel demand at 169.7 million metric tons in 2018. A large part of this consisted of imported steel. Between 2017 and 2018, import of finished steel products in the EU grew by 12%, while the European steel industry growth was a meager 3.3%. In 2018, the US administration imposed a 25% tariff on steel imports and a 10% tariff on aluminum imports due to security concerns, under Section 232 of the Trade Expansion Act of 1962 , ..
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