The European Commission and the European trade union federation IndustriAll Europe have reacted to the US decision to impose 25 percent tariffs on all steel and aluminum imports.
Ursula von der Leyen, president of the EC, stated that she deeply regrets the US decision to introduce tariffs on the EU's steel and aluminum, adding that the tariffs are negative for both consumers and business. Mrs. von der Leyen indicated that unjustified tariffs will lead to countermeasures and that the EU will respond accordingly to protect its interests, workers, businesses and consumers. Meanwhile, according to IndustriAll, the European steel industry has been under significant pressure, with production sites being shut down, production being reduced and jobs being cut. The steel and aluminum industries are the backbones of strategic areas such as energy and defense, the federation stated. Therefore, the EU should level the playing field for domestic producers against the threat of massive global overcapacity and increased trade conflict. Global steel overcapacity is expected to reach 630 million mt by 2026, which is five times the EU's crude steel production in 2023. With this in mind, IndustriAll has urged the EU to tighten its trade defense measures and to enforce them assertively in the short term in order to prevent unfair trade practices and circumvention. For the long term, the federation advised that the EU needs structural solutions to eliminate the impact of the worsening global excess capacity such as replacing the current steel safeguard measures, which will expire in 2026, with a more robust duty regime taking into account the World Trade Organization's rules.
Read more: US steel industry endorses new tariffs on imports
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