EU steel industry calls for tariffs similar to US Section 232
Time:Mon, 30 Sep 2024 09:02:03 +0800
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According to the report, the European Steel Association (Eurofer) and the European Commission (EC) recently discussed the price pressures domestic steel products face due to an oversupply of imported steel. Some market participants suggested that the government should implement measures similar to the United States' Section 232 tariffs, which impose uniform tariffs on imported finished steel products.
Despite the European Union's adoption of stricter safeguard measures, it imported 6.2 million tons of hot-rolled coil from January to July, marking a record high. Besides, cold-rolled coils and hot-dip galvanized steel products constituted a significant portion of the total supply, which impacted domestic steel mills already grappling with high energy costs. Some steel industry representatives expressed concerns that the current safeguard measures were insufficient to meet demand and doubted whether importers were attempting to evade tariffs by manipulating supply.
