France has taken the initiative to strengthen the protection of the European steel industry from cheap imports from China. This was stated by government spokeswoman Sophie Primas, commenting on the news about the reduction of 600 jobs at seven French ArcelorMittal enterprises, according to Reuters.
Against the backdrop of the energy crisis and growing competition from cheap Chinese products, European steel producers, including ArcelorMittal and Tata Steel, are facing massive challenges. In addition, they are suffering from increased tariffs on exports to the United States.
ArcelorMittal France North, in a message to the labor council, noted that it had already used all the possibilities of short-term adaptation, but now it was forced to resort to reorganization in order to remain competitive.
The company's decision caused a wave of criticism, in particular from the head of the Hauts-de-France region, Xavier Bertrand. He recalled that ArcelorMittal had received government support on its way to decarbonization and called on the company to explain exactly when the promised investments would begin.
France promises to make efforts at the EU level to review quotas and mechanisms for protecting the internal market in order to avoid further decline of the industry, which is of strategic importance to the region's economy.
Recall that by the end of 2024, French steel companies increased steel production by 7.6% compared to 2023, to 10.76 million tons. The indicator recovered after a significant drop of 17.5% in 2023.
