Integration Point Blog EU Steel Industry Urges Tougher Safeguards

The European Steel Association, EUROFER, called for more measures to protect the industry against a record increase in imports triggered by U.S. tariffs. This increase in finished-steel imports, combined with weak demand and high energy costs for local producers, threatens to force European companies to cut their production. EUROFER estimates that steel demand in Europe was challenged by the 12% increase in imports registered in 2018, despite the European market growing by only 3.3%. The increase in imports happened despite current safeguard measures designed to limit incoming steel following the Trump Administration’s 25% import tariffs, which have effectively closed the U.S. market. EUROFER estimates that two thirds of the steel that used to go to the U.S. now ends up in the European Union.