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Original headline: EU inviting disaster with carbon tax on steel , says Piyush Goyal
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Related tickers and likely impact
HSG
▼ Likely negativeHoa Sen Group
Relevance: low
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Basic Resources |
| Industry | Steel |
| Market cap | 8,961 bn VND |
| P/E | 13.7 |
| P/B | 0.76 |
| Close on 10/22/2026 | 10.95 |
| Change that session | 0.00% |
NKG
▼ Likely negativeNam Kim Steel
Relevance: low
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Basic Resources |
| Industry | Steel |
| Market cap | 5,982 bn VND |
| P/E | 35.9 |
| P/B | 0.78 |
| Close on 10/22/2026 | 12.00 |
| Change that session | +3.45% |
HPG
▼ Likely negativeHoa Phat Group
Relevance: low
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Basic Resources |
| Industry | Steel |
| Market cap | 175,192 bn VND |
| P/E | 7.5 |
| P/B | 1.25 |
| Close on 10/22/2026 | 21.25 |
| Change that session | +0.47% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- EU inviting disaster with carbon tax on steel, says Piyush Goyal
Union Commerce and Industry Minister Piyush Goyal on Thursday criticised the EU’s carbon tax on steel at the Berlin Global Dialogue, saying the bloc was “inviting disaster” by adding costs that could raise living costs and weaken industrial competitiveness. He said the Carbon Border Adjustment Mechanism (CBAM), along with a 50% import duty on steel, could make steel, aluminium and cement more expensive and affect infrastructure projects such as ports, airports and highways. Goyal warned that such regulations could prompt reciprocal measures from trading partners, hurting European businesses. He also noted that India accounts for only 3-3.5% of global carbon emissions despite supporting around 17% of the world’s population.
- Series of Steel Companies Report Big Profits in Third Quarter of 2026
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- EU inviting disaster by imposing carbon tax on steel , says Goyal
Commerce and Industry Minister Piyush Goyal said at the Berlin Global Dialogue that the EU is “inviting disaster” with its carbon border tax (CBAM) on steel, which he said would raise infrastructure costs and the cost of living. He argued that the EU's 75-77 regulations and a 50% import duty on steel make its industry uncompetitive and could create non-tariff barriers for trade partners. Under CBAM, Indian steel, aluminium and cement exports to the EU could face tariffs of 20-35%. Goyal said India accounts for only 3-3.5% of global carbon emissions while supporting 17% of the world's population, and that its per capita emissions are 7-8 times lower than those of Western nations. He added that CBAM does not recognise the principle of common but differentiated responsibilities.
- The State Does Not Create Wealth; It Consumes It: Europe's Socialist Model Hits the Wall
Writing on dlacalle.com, Daniel Lacalle argues that France's riots, in which the government counted 550,000 protesters, 1,200 arrests and 150 injured police on Saturday 17 October, reflect decades of big government, high taxes and debt. He cites public spending at 57.2% of GDP in 2025, a tax burden of 45.3% of GDP in 2024, public debt at 119% of GDP in Q2 2026 and a deficit of 5.1% of GDP in 2025. Government expenditure reached 49.5% of GDP across the EU and 49.8% in the euro area in 2025, while the IMF expects euro-area growth of 1.1% in 2026 versus 2.3% for the United States. He also points to pension entitlements of 347% of GDP in Germany and 500% in Spain, which Eurostat describes as almost entirely unfunded, and argues that the welfare model is borrowing against the future.
- Berlin Global Dialogue: EU inviting disaster through carbon tax, says Piyush Goyal
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