European trade bodies have expressed disappointment after the European Union (EU) refused to make any substantial changes to the import quota for steel in the light of dwindling EU steel demand.
On June 30, media reported that only minor adjustment measures were taken, ignoring European steel industry’s demand for drastic cuts to safeguard the steel sector during the pandemic..
The EU declared that during the 12 months starting from July 1, quotas would go up by 3%, the same increase as 2019.
The IndustriAll European Trade Union and the European Steel Association (EUROFER) issued statements condemning it.
Luis Colunga, Deputy General Secretary of IndustriAll Europe said EU’s move represents a failure to exploit safeguard tools and this could cost thousands of jobs and taxpayers’ money.
There has been a collapse of 50% in EU steel demand since March, said Axel Eggert, Director General of EUROFER, adding that it makes no sense that the tariff-free import quota has been further raised
The two associations have called for an emergency meeting with EU’s policymakers.