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Euronews

Green steel as a lifeline? EU Commission protects European metal industry from unfair competitors

European Union Europe EU Commission European Commission ThyssenKrupp Germany United States

Germany's steel giant ThyssenKrupp wants to cut 11,000 jobs. Europe's metal industry is in crisis. US tariffs, exorbitant energy prices, global overcapacity, competition from cheap steel from China... The European Commission is trying to save what can be saved - with a 'Steel Action Plan'.

The European Commission calls its strategy for industrial competitiveness and decarbonisation the 'Clean Industrial Deal'. Far too much steel is produced worldwide. And now the new US government is also threatening tariffs: 25 percent on all steel and aluminium imports. As a result, there is a risk of international trade flows being diverted away from the USA and towards the European internal market.

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