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
Resilient financial results as Rio Tinto grows and diversifies
(Posted on 30/07/25)Rio Tinto has announced a 6% production year-on-year uplift, thereby delivering on strategy through... Read more
K-SURE and Trafigura $200m financing agreement to support Korean shipping
(Posted on 30/07/25)The Korea Trade Insurance Corporation (K-SURE) and Trafigura, a global leader in the commodities industry... Read more
BHP record copper and iron ore production drives strong 2025 performance
(Posted on 21/07/25)BHP have released their Operational Review for the year ended 30 June 2025.BHP Chief Executive Officer... Read more
Dynamic Mining shipping arm and GeoServe’s one-year milestone
(Posted on 15/07/25)A strategic collaboration between Icon Gulf Trading DMCC (part of the Dynamic Group) and GeoServe Energy... Read more
SSAB and Metal Solutions start partnership in fossil-free steel
(Posted on 15/07/25)SSAB and Metal Solutions have entered a long-term partnership for the supply of decarbonized steel with... Read more
NGFA thanks lawmakers for including industry priorities in ‘One Big Beautiful Bill’
(Posted on 08/07/25)The National Grain and Feed Association (NGFA) in the USA has applauded Congress for including a slate... Read more
Fertilizers Europe: Commission announcement on CBAM falls short
(Posted on 08/07/25)Fertilizers Europe’s have released their reaction to the European Commission announcement on the... Read more
Bunge completes sale of its North America corn milling business
(Posted on 02/07/25)Bunge Global SA has confirmed that it has completed the previously announced sale of its North America... Read more
SSAB secures additional EUR 430 million green financing for Luleå
(Posted on 02/07/25)Following the successful debt raising at the end of April 2025, SSAB has secured an additional EUR 430... Read more
Soaring demand opens up investment opportunities across West Africa
(Posted on 25/06/25)Despite China’s dominant position in securing commodities across Africa, there are still many... Read more
