The European Commission presented today, Tuesday unprecedented measures, among which is the doubling duties in steel imports, in order to protect European steelworks against Chinese competition, which is considered unfair.
In 2024 18,000 jobs were lost In this area, “there is too many and this must stop,” said Stefan Cézurne, Vice President of the Committee, presenting measures to reporters.
The Commission first of all intends to reduce by 47% of the steel quotas that are allowed to be introduced in the EU each year without duties. The total amount of steel to be imported without duties will fall to 18.3 million tonnes, as it was in 2013, before market imbalances begin due to overproduction.
“On behalf of all Arcelormittal workers in Europe, I feel sincerely relieved,” said Antite Mital, the president of the Group, thanking the EU for “understanding the seriousness of the situation and vigorously acted.”
“Global surplus production capacity is five times as much of the annual steel consumption in the EU,” recalled Maros Shefkovic Commissioner Maros.
The second radical measure of the Commission is that imports beyond the quotas will be borne by double duties, from 25% to 50%. They will thus reach the level of duties imposed on the US and Canada.
Imports of processed steel should also declare in which country the metal was constructed, a term aimed at preventing the tariff barriers from bypassing.
The new plan “for the rescue of steelworks and European jobs,” as Cézourne said, will replace the “assurance clause” implemented in 2019 to support European producers and ending in mid -2026.
“The European industry was on the verge of collapse. We will protect it so that she can invest and become competitive again, ”the Vice President of the Commission promised.
The steelmakers immediately welcomed the plan, demanding that it be implemented as soon as possible. Eurofer, the European Confederation of Iron and Steel Industries, has spoken of a “life jacket of the steel and workers”.
Brussels want to implement these measures as soon as possible – no later than July 1, 2026. “We need to act now,” European Commission President Ursula von der Layen said in a statement, asking the 27 countries and MEPs to approve the measures.
At the same time EU continues to negotiate with Washington the exception of European steel from US duties. The goal is to conflict Europe and the US to resist the Chinese pavement.
The numbers speak for themselves: Last year, China made more than 1 billion tonnes of steel, ie over half of world production, far exceeding India (149 million), Japan (84 million) and US (79 million). Next to them, European production appears insignificant: in Germany 37 million tonnes, in Spain 12 and France fewer than 11.
European industries have been destabilized for many years by their Chinese competitors who are vilely subsidized. And suffer the consequences of Beijing overproduction, which pushes prices down. As a result, the “economic and social recovery plans” and the closure of factories are multiplied in an area that employs even more than 300,000 EU workers, while indirect jobs created by it reach 2.5 million.
In Germany, the Thyssenkrupp group plans to sell its steel industry to Indian Jindal Steel, while in France Arcelormittal has just removed 600 jobs.
Source: Skai
I am Janice Wiggins, and I am an author at News Bulletin 247, and I mostly cover economy news. I have a lot of experience in this field, and I know how to get the information that people need. I am a very reliable source, and I always make sure that my readers can trust me.