Bühler GmbHViganGeneva DrySailors SocietyTBA GroupPort of South Louisiana
  • Sailors Society
  • Vigan
  • Van Aalst
  • TBA Group
  • Geneva Dry
  • Bühler GmbH

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

ADM and Bayer collaboration help farmers achieve lower carbon emissions

(Posted on 19/06/24)

 ADM and Bayer have announced an extension of their collaboration, working with farmers in a bid... Read more


US House appropriations bill includes reinstatement of NASS reports

(Posted on 14/06/24)

A House appropriations subcommittee in the USA has approved its Fiscal Year 2025 bill that includes... Read more


Rio Tinto to acquire Mitsubishi’s stake in Boyne aluminium smelter

(Posted on 14/06/24)

Rio Tinto has agreed to acquire Mitsubishi Corporation’s 11.65% interest in Boyne Smelters Ltd... Read more


Richards Bay Minerals’ renewable energy agreement

(Posted on 07/06/24)

Richards Bay Minerals (RBM) has signed a renewable power purchase agreement (PPA) with Khangela Emoyeni... Read more


Trafigura half year result show core business strength

(Posted on 07/06/24)

Trafigura Group Pte Ltd, a market leader in the global commodities industry, has released its 2024 Half... Read more


New Zealand aluminium smelter’s future secured with power deals

(Posted on 01/06/24)

New Zealand Aluminium Smelters (NZAS) has signed 20-year electricity arrangements that secure the future... Read more


NGFA statement on farm bill advanced by House Ag Committee

(Posted on 31/05/24)

The House Agriculture Committee in the USA have advanced a farm bill that includes several important... Read more


Rio Tinto and BHP collaborate on electric trucks in the Pilbara

(Posted on 28/05/24)

In an industry first, Rio Tinto and BHP will collaborate on the testing of large battery-electric haul... Read more


KEZAD signs lease agreement with Ducab Metals Business

(Posted on 28/05/24)

KEZAD Group, the largest operator of integrated and purpose-built economic zones, and Ducab Metals Business... Read more


Anglo American simplifies portfolio of copper, premium iron ore and crop nutrients assets

(Posted on 22/05/24)

Anglo American plc is setting out a clear, compelling and decisive plan to unlock significant value... Read more


Port of StocktonTMS Awards 2023TelestackCimbriaVan Aalst
  • Telestack
  • TMS Awards 2023
  • Port of Stockton

Subscribe to our newsletter

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