ArcelorMittal welcomes strengthened EU trade defence proposal

ArcelorMittal has welcomed the European Commission’s new proposal to strengthen trade defence mechanisms, calling it a critical and balanced step to safeguard the future of Europe’s steel industry.

The proposed tariff-rate quota system, which is set to replace the current safeguard measures, comes at a time when the European steel sector is facing immense pressure from low-priced imports, weakening demand, and broader economic headwinds.

Aditya Mittal, CEO of ArcelorMittal, issued the following statement: “On behalf of all ArcelorMittal employees across Europe, I welcome and am greatly relieved by the Commission’s announcement today. I would like to thank the Commission and EU Member States for recognising the severity of the crisis facing our industry and for taking firm and appropriate action. The European steel industry – and the broader manufacturing sector – can now look forward to a more stable and competitive future. Today marks an important step in that direction.”

Geert Van Poelvoorde, CEO of ArcelorMittal Europe, added: “Today, the voice of ArcelorMittal and the wider European steel industry has been heard. We commend the European Commission for presenting a strengthened trade defence proposal that reflects a real understanding of the challenges we face. We urge swift implementation of the new tariff-rate quotas, which are essential to ensuring the survival and future viability of steelmaking in Europe. We also look forward to the upcoming revision of the Carbon Border Adjustment Mechanism (CBAM), expected later this year. The Commission’s willingness to engage with our concerns gives us hope that the updated CBAM and the broader EU Steel and Metals Action Plan will offer further support to our industry While European steel producers continue to operate at a significant competitive disadvantage in global markets, today’s announcement – particularly when combined with an effective CBAM – is a vital step toward restoring fair conditions and halting the decline of Europe’s steel sector.”

ArcelorMittal aims to continue to engage constructively with EU policymakers to ensure the swift implementation of these proposals and a robust framework for European industrial competitiveness.

Source and Photo: ArcelorMittal