EU Steel Sector Action Plan
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Metals action planReuters
•World
World
European steelmakers weigh in on EU Steel Action Plan
79% Informative
The European Commission announced on Wednesday an action plan to make Europe 's ailing steel sector more competitive.
The Steel and Metals action plan aims at reviving its industries to stay competitive with Chinese and U.S. rivals.
European steelmakers, which have long complained about cheap Chinese imports, are also warning about a possible flood of surplus steel.
"The proposed changes to CBAM are also positive as the Commission seems intent to address the structural loopholes in the current mechanism." "However, the concrete actions will only be announced at a later stage in 2025 and implementation is largely in the hands of member states which may have other priorities in the current context." (Reporting by Anna Peverieri , additional reporting by Eric Onstad , Christoph Steitz , Pratima Desai , Julia Payne and Philip Blenkinsop , Editing by Alexandra Hudson ).
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