Brussels to Significantly Increase Import Tariffs to Save European Steel Industry
The European Commission will announce a new safeguard measure next Tuesday to protect the struggling European steel production. The measure will propose expanding and significantly increasing import tariffs.
According to representatives at the meeting, EU Executive Vice President Stefan Sorge outlined these new measures to industry representatives at an industry organization meeting held in Brussels on Wednesday, October 1st. AFP reported that Sorge assured European steel industry representatives that this would be "the strongest provisions ever."
According to attendees, the new "safeguard clauses" prepared by Brussels will include reducing the foreign steel quotas exempt from additional fees imported into the EU by "nearly half."
Additionally, the current 25% steel tariff will be "significantly" increased, with tax rates similar to those of the United States and Canada. Unlike the current protection measures, this measure is not temporary.
The clause will be officially announced next Tuesday in the European Parliament in Strasbourg.
The report states that time is urgent, as the steel industry, like other industrial sectors such as automobiles, is going through a very difficult period.
Last year, China alone produced more than 1 billion tons of steel, accounting for more than half of global production. European countries are far behind: according to data from the World Steel Association, Germany produced 37 million tons, Spain produced 12 million tons, and France produced less than 11 million tons.
At the same time, due to soaring energy prices, the costs for European steel manufacturers are also rising.
For companies such as ArcelorMittal and Thyssenkrupp, this is a serious challenge, as they must invest in reducing greenhouse gas emissions from their factories.
Source: rfi
Original: www.toutiao.com/article/1844924764983360/
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