BRUSSELS, April 14 --  EU lawmakers and countries agreed to double tariffs on foreign steel on Monday, to shield the bloc's struggling industry from a flood of cheap Chinese exports.

European Union governments and parliament representatives reached a late evening deal to hike levies on steel imports to 50 per cent and slash the volume allowed in before tariffs apply by 47 per cent.

"The shape and global standing of Europe's steel sector are fundamental to our strategic autonomy and industrial strength. We therefore cannot afford to turn a blind eye to global overcapacity reaching critical levels," commented the EU's trade chief, Maros Sefcovic.

"Today's outcome helps bring much-needed stability for our producers to thrive in Europ...