Bühler GmbHVan AalstSailors SocietyPort of South LouisianaPort of StocktonTBA Group
  • TBA Group
  • TOC Events
  • Van Aalst
  • Coaltrans Asia 2021
  • Vigan
  • 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

thyssenkrupp sells mining business to FLSmidth

(Posted on 29/07/21)

thyssenkrupp has announced the sale of its Mining Technologies business unit to the Danish company FLSmidth... Read more


Rio Tinto progresses studies for underground mining at Kennecott

(Posted on 26/07/21)

Rio Tinto has approved a $108 million investment in underground development to enable early orebody... Read more


En+ Group sustainability report sets new targets

(Posted on 20/07/21)

En+ Group, the world’s largest producer of low carbon aluminium, has published its 2020 Sustainability... Read more


Rusal to supply Rheinfelden with low carbon aluminium

(Posted on 15/07/21)

Rusal, a leading global aluminium producer, has announced that it will supply its plant Aluminium Rheinfelden... Read more


Largest Korean steel producer and Rio Tinto sign climate MOU

(Posted on 11/07/21)

Rio Tinto and POSCO, the largest steel producer in South Korea and one of the world’s leading... Read more


BHP announces divestment of Cerrejón interest

(Posted on 05/07/21)

BHP has announced that it has signed a Sale and Purchase Agreement with Glencore to divest its 33.3... Read more


Galena fund: first for commodities industry

(Posted on 01/07/21)

Galena Asset Management, a wholly-owned investment subsidiary of Trafigura, one of the world’s... Read more


Force majeure declared at Richards Bay Minerals

(Posted on 01/07/21)

Rio Tinto has declared force majeure on customer contracts at Richards Bay Minerals (RBM) in South Africa... Read more


Rio Tinto to drive decarbonisation with Schneider

(Posted on 28/06/21)

Rio Tinto, a leading global mining and metals company, and Schneider Electric, the leader in digital... Read more


Rio Tinto deploys first fully autonomous water trucks

(Posted on 22/06/21)

Rio Tinto will deploy the world’s first fully autonomous water trucks at its $2.6 billion Gudai... Read more


Coaltrans Asia 2021Cleveland Cascades LtdViganTelestackCimbriaTMS Awards 2021
  • Port of Stockton
  • The Wolfson Centre for Bulk Solids Handling Technology
  • Bühler GmbH
  • Sailors Society
  • Cimbria

Subscribe to our newsletter

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