EU Steel Giants Urge Swift Action Against U.S. Tariffs

Thyssenkrupp Steel Europe and Salzgitter urge the EU to implement an action plan swiftly to counteract U.S. tariffs and protect the European steel industry. They emphasize the need for decisive measures and dialogue with the U.S., highlighting the importance of European content quotas in procurement.

The European steel industry is urging the European Union to swiftly execute its action plan to counteract U.S. President Donald Trump's tariff measures. Thyssenkrupp Steel Europe (TKSE) and Salzgitter have emphasized the urgency, citing the threat to their sector.

Gunnar Groebler, CEO of Salzgitter, Germany's second-largest steelmaker, stressed the importance of Europe not appearing defenseless amid rising import pressures. While advocating for decisive EU actions, he also underscored the importance of maintaining dialogue with the U.S.

Dennis Grimm, a spokesperson for TKSE, highlighted the necessity of the plan to enhance sector competitiveness and pursue decarbonization, given the current geopolitical context. Additionally, he pointed out the importance of setting binding quotas for European content in procurement to bolster domestic markets.

(With inputs from agencies.)