German federal finance minister Lars Klingbeil has used the Bundestag debate on the 2026 federal budget and the financial plan 2025-2029 to underscore the strategic importance of the steel and automotive sectors for Germany’s economy and industrial transformation. He pledged strong action to ensure German steel is not displaced by Chinese imports and highlighted the shift to electric mobility as central to safeguarding jobs and prosperity.
In his address, Klingbeil placed particular emphasis on the steel industry, warning that “dirty steel from China must not be allowed to displace domestic steel”. He stressed that steel production must remain anchored in Germany, as it is critical for industrial value chains, energy transition infrastructure, and national security.
The finance minister tied this stance to the federal government’s broader commitment to support industries undergoing green transformation. He emphasized that the future of the automotive industry is electric, with expansion of charging infrastructure and e-mobility crucial to securing employment.
Klingbeil argued that jobs in both steel and automotive are at the heart of Germany’s prosperity and social cohesion. The upcoming budget, he said, must strike a balance between fiscal responsibility and safeguarding the industrial backbone of the German economy.
