EUROFER reiterates need for reinforcement of safeguards

Wednesday, 20 November 2019 17:23:34 (GMT+3)   |   Istanbul

Ahead of the EU Foreign Affairs Council trade meeting on Thursday, November 21, the European Steel Association (EUROFER) has called on the European Commission to have another go at reviewing EU steel safeguard, stating that this must defend the sector against deflected steel sent to Europe given the US Section 232 tariffs and sustained global production overcapacity.

“This year, European steel companies have had to announce production cuts of at least 15 million mt; 15,000 jobs have been lost or put at risk. This is in addition to the 20 percent decline in the steel workforce since 2008,” said Axel Eggert, director general of EUROFER.

According to EUROFER, the agenda for Thursday’s meeting includes a review of EU-US trade relations, as well as a discussion on the WTO and on trade relations with China, whereas EUROFER believes that the meeting should also include an opportunity for ministers to discuss the EU safeguard, adding that the revisions made to the safeguards have proven insufficient in light of the shifting circumstances of the global steel sector.

EUROFER requests that the safeguard be realigned to reflect the fact that the quota volumes were set far above traditional EU import levels, and that since then market conditions have considerably deteriorated.

EUROFER also believes that, during the Foreign Affairs Council, ministers should reflect on China’s refusal to support the extension of the mandate of the Global Forum on Steel Excess Capacity.

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