New Delhi, June 13 -- New Delhi: The European Union (EU) has put India's individual quota on hold and placed it under a "pooled quota" for exporting certain kinds of steel products to the 27-nation bloc, dealing a double whammy to a sector already reeling from America's 50% tariff.

The latest move is meant to correct imbalances in the current quota system by restoring separate duty-free country-specific quotas for major exporters like Ukraine, UK, Turkiye and Korea.

However, countries like India, which fall under an "other countries" category, must share a pooled quota of around 12,500 tonnes with others, including China and Vietnam among others.

The EU's notification was submitted to the Committee on Safeguards at World Trade Organiza...