Thyssenkrupp Steel Champions EU's Steel Action Amid Geopolitical Shifts

Thyssenkrupp Steel Europe supports the EU Commission's steel action plan, highlighting the importance of incorporating 'European content' in procurement to bolster domestic markets. EU Commission President Ursula von der Leyen engaged with metals and automobile sectors to strategize responses to U.S. tariffs ahead of an upcoming vote on steel duties.

Thyssenkrupp Steel Europe (TKSE) has voiced strong support for the European Commission's steel action plan, amidst current geopolitical tensions. Dennis Grimm, spokesperson for the TKSE executive board, emphasized the necessity of establishing 'European content' quotas in procurement to reinforce local markets.

On Monday, European Commission President Ursula von der Leyen held discussions with representatives from the metals industry and later addressed the automobile sector. The discussions were focused on preparing strategies in reaction to U.S. tariffs and gathering information for potential counter-measures.

The coordination efforts come as Brussels readies to vote on their response to Washington's steel duties later this week, aiming to align industrial priorities in the face of external economic pressures.

(With inputs from agencies.)