Industriall Europe reported that the crisis in the steel and aluminum sectors, which has been going on for years, is deepening. While 100,000 jobs have been lost in the steel sector since 2008, five more aluminum smelters have been forced to close since 2021. Rising energy costs, global overcapacity and escalating trade wars pose a major threat to the sector.
IndustriAll called on Europe to strengthen its trade defense tools to protect its own industry and replace the current steel protection measures with a more robust tariff regime. The EU will present an action plan for base metals in spring 2025 and this process should be accelerated.
Judith Kirton Darling, Secretary General of IndustriAll Europe, emphasized: "The new US tariffs on steel make it even clearer that Europe needs a strong action plan to protect its industry. Europe's industry is the backbone of the economy and we must take urgent measures to protect it."
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