Aperam Calls for EU Action Amid US Tariff Woes

French steelmaker Aperam urges EU action if new US tariffs redirect steel imports to Europe. This echoes European steelmakers' fears of a 2018-like flood of cheap imports. Aperam stresses safeguarding measures as part of EU's Steel and Metals Action Plan amidst ongoing decarbonization efforts.

French steelmaker Aperam has urged Brussels to act if new US tariffs lead to a redirection of steel imports into Europe. Amid fears reminiscent of 2018, when European markets faced a surge of cheap imports due to US trade policies, Aperam's call highlights the persistent concerns among European steelmakers.

The company's concern comes after ArcelorMittal, the world's second-largest steel producer and former parent of Aperam, advised the EU to fortify its trade defenses. The Mittal family still holds significant stakes in both entities. European safeguard measures from 2018, enacted to mitigate tariff impacts, are nearing their expiration date in Trump's potential second term by mid-2026.

Aperam's CEO Tim di Maulo asserted that reducing steel imports is one of several critical measures needed to address market challenges. The EU's upcoming Steel and Metals Action Plan is set to be unveiled in Spring 2025, signaling potential reforms while aligning with climate commitments and strategic trade regulation.

(With inputs from agencies.)