EU plans to reduce steel imports by 15% - Aims to protect industry from unfair competition, consequences of tariffs
The European Commission presented an action plan for the steel and metals industry. In a sector characterized by strong international competition, the European executive plans to tighten import quotas, aiming for a 15% reduction.
"For several years, global overcapacity, particularly in Asia, has hit our factories hard," said Commission Vice-President Stéphane Séjourné, as he presented an action plan for the steel and metals industries, adding: "This is priority number one: We must protect our steel factories from unfair foreign competition, wherever it may come from," he stressed.
Ever since the Americans imposed a 25% tariff on all steel and aluminum imports into the US, the European Union has been worried that it will see more global steel overcapacity flooding its market. In 2018, during a trade dispute with the first Trump administration, the EU introduced a safeguard measure to restrict steel imports. This has been renewed several times since then.
From April onwards, the Commission will increase these quotas to obtain a further 15% reduction in imports. It has also announced that it will present a replacement for the safeguard clause, which is due to expire in 2026, in the third quarter of 2025.
The steel and aluminium action plan also includes an investigation into aluminium on the EU market for possible safeguard measures. "Europe must be a global steel player, not a playground," warned Stéphane Séjourné.
To protect its market from unfair global competition, the EU also plans to introduce a rule on metal imports. The bloc is to prevent foreign importers from circumventing trade defence measures, such as anti-subsidy measures, by carrying out the final stage of the production process in a third country not subject to the measures, before shipping to the EU.
Under the new rule, the Commission will be able to take action against the place where the metal was originally smelted to eliminate the possibility of changing the origin of the metal product by carrying out minimal transformation.
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