The European Commission has confirmed it will apply 25% tariffs on steel imports over the “level of traditional flows”. That comes as a response to U.S. tariffs applied in March 2018 and could further distort global steel supply chains. EU imports of all iron and steel products climbed 15.5% in the three months to Oct. 31 vs. a year earlier compared to an 8.4% increase in U.S. imports over the same period. China, Turkey and South Korea accounted for 63.0% of the increase in EU imports in euro terms over that period. Both China, due to the trade war, and Turkey – as a result of sanctions...