TMS Awards 2023Port of StocktonViganVan AalstBühler GmbHPort of South Louisiana
  • Port of Stockton
  • TBA Group
  • Vigan
  • Sailors Society
  • TMS Awards 2023
  • Port of South Louisiana

EUROFER condemns US tariffs and calls for safeguards to counter ‘Section 232 effect’

EUROFER condemns US tariffs and calls for safeguards to counter ‘Section 232 effect’

(Posted on 01/06/18)

US Commerce Secretary Wilbur Ross has announced that the US’ Section 232 tariffs will now hit EU steel. As of today, 1 June, the EU will face a 25% tariff on its exports of the metal to the US.

The European Steel Association (EUROFER) has condemned the US action and called on the Commission to swiftly adopt safeguard measures that are broad in scope, comprehensive in the countries covered, but that ensure access to traditional trade flows.

EUROFER is located in Brussels and was founded in 1976. It represents the entirety of steel production in the European Union.

“The US measure is naked protectionism – a bad day for the world trade system”, said Axel Eggert, Director General of EUROFER. “However, what’s done is done – the US’ administration seems not to believe that being close, political, economic and geo-strategic partners is sufficient grounds to prevent the EU from being hit”.

“The EU thus needs to act swiftly in its own interest to defend the internal market from the ‘Section 232 effect’ – the impact of steel deflected from the US border to the largest open steel market in the world: Europe’s”, stressed Mr Eggert.

“EUROFER calls for a quickly-deployed safeguard that covers the full product scope that will be affected – and warns that there cannot be country exclusions if the safeguard is to function. However, the purpose is not to exclude imports: it is preventative remedial action against the threat posed by import surges”, added Mr Eggert.

In the first four months of the 2018, imports have surged by 8.4%, almost certainly as a result of the Section 232 effect. 2017 already represented a high-water mark for imports into the EU – making rapid corrective remedial action all the more imperative.

“We regret that the US has taken this unnecessarily damaging step. We support the Commission in its responses to the US’ trade action – and urge all EU stakeholders to remain united in order to face down both the US’ measure and the incoming inundation of deflected steel products”, concluded Mr Eggert.

The European steel industry has a turnover of around €170 billion and directly employs 320,000 highly-skilled people, producing on average 160 million tonnes of steel per year. More than 500 steel production sites across 22 EU Member States provide direct and indirect employment to millions more European citizens.

EUROFER members are steel companies and national steel federations throughout the EU. The major steel companies and national steel federations in Switzerland and Turkey are associate members.

Latest News

Senate legislation includes phosphate and potash as critical minerals

(Posted on 25/03/24)

The Fertilizer Institute (TFI) has praised the U.S. Senate for introducing bipartisan legislation to... Read more


Agribusiness expert’s legacy and optimism for GrainCorp’s future

(Posted on 18/03/24)

Farmer, Company Director and long-standing member of the GrainCorp Board of Directors, Dan Mangelsdorf... Read more


Research offers Rotterdam guidelines for raw material transition

(Posted on 15/03/24)

Different product processes, non-fossil raw materials and rare materials are crucial for a CO2-neutral... Read more


Bunge Chevron Ag Renewables to build Louisiana processing plant

(Posted on 10/03/24)

Bunge and Chevron have announced approval of a final investment decision for their joint venture Bunge... Read more


Funding to decarbonise iron ore processing in Labrador West

(Posted on 29/02/24)

The Government of Canada HAS awarded C$18.1 million from its Low Carbon Economy Fund to Rio Tinto&rsquo... Read more


Australia’s biggest renewables deal to repower Gladstone aluminium operations

(Posted on 22/02/24)

Rio Tinto has signed Australia’s largest renewable power purchase agreement (PPA) to date to supply... Read more


BHP half year results released

(Posted on 22/02/24)

Mike Henry, Chief Executive Officer, reviewed the Company's operating and financial performance:&ldquo... Read more


Titan Lithium to set up AED 5 Billion processing plant in KEZAD

(Posted on 14/02/24)

Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose... Read more


Australia’s iron ore leaders partner for steel decarbonisation

(Posted on 11/02/24)

Australia’s two largest iron ore producers and its biggest steelmaker have partnered in their... Read more


Lithium market to face transition as demand growth slows

(Posted on 02/02/24)

The lithium market is experiencing a period of transition as demand growth slows and the industry adjusts... Read more


TelestackSailors SocietyCimbriaTBA GroupGeneva Dry
  • Geneva Dry
  • Van Aalst
  • Bühler GmbH

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping