Brussels (Reuters) – The head of the European Commission Ursula von der Leyen welcomed leaders of the steel sector on Tuesday for a debate on how to ensure the future health of industry, because it faces high energy costs, decarbonization and imminent American rates.
The debate, launched eight days before US President Donald Trump should impose 25% prices on steel and aluminum imports, will examine how the block considers unjust business practices and global overcapacity, especially in China.
Among the participants, there were leaders of the second largest arcelormittal world and Thyssenkrupp, leaders of the World Federation of the Union Industriall, and representatives of the main steel users in calculation and construction.
A key question will be how to protect EU producers from a potential stream of diverted steel imports from the United States to the more open European market.
The EU has guarantees in the form of quotas without a price per quarter and by country for various categories of steel dating from 2018, when Trump imposed metals import prices during his first mandate.
Under the rules of the World Trade Organization, such guarantees can only be in place for a maximum of eight years, which means that they will be exhausted during Trump’s second term in mid-2026.
The European Commission, which oversees the EU trade policy, said it plans to extend the guarantees or set up another mechanism. It could also tighten the current system.
EU steel demand should have fallen in 2024 for a second consecutive year.
Bloc iron and steel imports totaled 39.5 billion euros ($ 41.5 billion) last year, while its iron and steel exports to the United States were worth 5.4 billion euros, according to the Eurostat EU statistical office.
The Commission also intends to assess the opinion of the industry on energy prices, including hydrogen prospects with low carbon content as a fuel, the supply of raw materials and the best way to promote the demand for low carbon and secure investment steel.
(1 $ = 0.9512 euros)
(Report by Philip Blenkinsop and Tiffany Vermeylen; edition by Jan Harvey)
