The European Commission intends to present a plan this week aimed at protecting the steel industry from the impact of Trump’s tariffs, according to an exclusive report by Handeslblatt. The document cited by the sources describes an ‘exceptional situation’ in the steel sector. The 23-page proposal revealed by the German newspaper states that ‘global excess production capacity poses a serious threat to the profitability and competitiveness of the European industry.’ The EU has already implemented several trade defense measures due to unfair competition, but these are set to expire by June 2026. After thorough investigations, the EU Commission concluded that extending these measures is justified. It cannot be assumed that the ‘structural global overcapacity and its negative effects on trade in the EU steel industry’ will disappear. Meanwhile, US tariffs on steel and aluminum have just come into effect this week.
EU Plans to Extend Protective Measures for Steel Industry Amid Trump Tariffs
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in Business