Global steel giant ArcelorMittal has strongly supported the European Commission's proposal to replace the current EU safeguards with enhanced tariff quotas on steel imports. The company called the move crucial for the survival of the European steel industry, which is facing increasing pressure from cheap imports, declining demand and weak economic conditions.
Commenting on the proposal, CEO Aditya Mittal said that he was sincerely pleased with the proposals that had been presented. Support for the European steel industry has been announced. He thanked the European Commission and the member States for understanding the urgency of the situation and taking appropriate and decisive action. The European steel industry and the manufacturing industry as a whole can have a much more solid future, and today marks a step in that direction, Mittal added.
Geert Van Polvoorde, CEO of ArcelorMittal Europe, echoed these sentiments, noting that the proposal brought relief to the entire European steel sector.
"ArcelorMittal and European steel producers have been heard. Today, we can breathe a sigh of relief when the European Commission announced a new proposal to tighten tariff quotas," Van Poelvoorde said, adding: "We thank the members of the Commission for the time and attention they have given to understanding the challenges facing our industry. We will continue to insist on the early introduction of a new tariff quota, recognizing the seriousness of the challenges facing the European steel industry."
Geert Van Poelvoorde, CEO of ArcelorMittal Europe
Communication with CBAM and the Steel Industry Action Plan
ArcelorMittal also stressed the importance of aligning trade protection instruments with climate policy, in particular the Carbon Dioxide Emissions Regulation Mechanism (CBAM), the revised structure of which is expected by the end of 2025.
"We hope that the trade proposal presented today is evidence that our concerns will be taken into account in further measures to be announced in accordance with the Steel and Metals Action Plan," Van Pelvoorde said.
He said his company believes that a strict tariff quota regime combined with an effective CBAM will be essential to restore a level playing field, curb market distortions, and maintain European steel's competitiveness in the global market.
