Global steel giant ArcelorMittal has strongly endorsed the European Commission’s proposal to replace current EU safeguard measures with strengthened tariff quotas on steel imports. The company described the move as critical for the survival of Europe’s steel industry, which is facing mounting pressure from low-priced imports, shrinking demand, and weak economic conditions.
Commenting on the proposal, CEO Aditya Mittal said that he is sincerely relieved by the proposals that have been announced to support the European steel industry. He thanked the European Commission and the member states for understanding the criticality of the situation and acting appropriately and decisively. The European steel industry and manufacturing more broadly can have a much stronger future now and today marks a step in that direction, Mittal added.
Call for swift implementation
Geert Van Poelvoorde, CEO of ArcelorMittal Europe, echoed these sentiments, noting that the proposal has brought a sense of relief across the European steel sector.
“ArcelorMittal and the European steel producers have been heard. Today, we can breathe a sigh of relief, with the European Commission’s announcement of the new, strengthened tariff quota proposal,” Van Poelvoorde stated, adding, “We thank the commissioners for the time and attention they have taken to understand the challenges facing our industry. We will continue to press for a swift introduction of the new tariff quota, in recognition of the severity of the challenges facing the steel industry in Europe.”
Link with CBAM and the Steel Action Plan
ArcelorMittal also stressed the importance of aligning trade defense instruments with climate policy, specifically the Carbon Border Adjustment Mechanism (CBAM), whose revised framework is expected by the end of 2025.
“We hope that the trade proposal unveiled today is an indication that our concerns will be reflected in the further measures to be announced in line with the Steel and Metals Action Plan,” Van Poelvoorde noted.
He said that his company believes that a strong tariff quota regime, combined with an effective CBAM, will be essential to restore a level playing field, curb market distortions, and support Europe’s steel competitiveness globally.