The German Steel Federation (WV Stahl) has stated that EU safeguarding measures, which came into effect July 1, have failed to meet their intended goal of protecting the Europe’s steel industry.
WV Stahl added that the EC (European Commission) hasn’t acted on the European steel industry’s request to reduce the tariffs on imported steel, and that it has overlooked the continent’s imperilled economy.
Hans Jurgen Kerkhoff, president of the Steel Industry Association, said steel demand has not only decreased in Germany, it’s fallen globally because of COVID-19. He added that the EC should now take protective measures for the continent’s steel industry, which includes avoiding another major import crisis.
WV Stahl believes that various measures and coordinated efforts have to be taken in order to protect the steel industry from the numerous challenges it’s confronting, the federation said in a statement.