The European steel industry is on the brink.
A 50% tariff on steel imports into the United States and the lack of a bilateral agreement to preserve EU steel exports to the U.S. under the recent EU-U.S. Joint Statement on Trade have exacerbated an already dire situation for European steelmakers.
Global steel overcapacity, fuelled by China, has soared – from 513 million tonnes in 2020 to a projected 721 million tonnes by 2027 – flooding markets with cheap, high-carbon steel. While countries across the world are protecting their industries with new trade barriers, excess production is being deflected straight into the EU.
The result? European plants grinding to a halt, jobs being lost, and investment in clean, low-carbon steel put under threat. Imports are surging even as demand in Europe falls, leaving the EU dangerously exposed.
This is more than a trade dispute. It’s about whether Europe can secure its prosperity, resilience, and climate leadership. A new, comprehensive EU trade defence measure, as promised by the European Commission in its Steel and Metals Action Plan, is urgently needed to give Europe’s clean steel industry the chance to remain competitive and thrive.
The future of European steel – and with it, Europe’s strategic autonomy – depends on decisive EU action now.
