BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//DIIHK//Events//FA
CALSCALE:GREGORIAN
METHOD:PUBLISH
BEGIN:VEVENT
UID:event-986@diihk.com
DTSTAMP:20260901T111831Z
DTSTART:20250430T083645Z
DTEND:20250430T083645Z
SUMMARY:EU Plan to Rescue Europe's Steel Industry
DESCRIPTION:EU Plan to Rescue Europe's Steel Industry				\n		Starting next
  year\, non-European producers of cement\, aluminum\, iron\, and steel wi
 ll have to pay a CO₂ tax at the EU’s borders when importing environme
 ntally unfriendly goods.Germany’s steel giant Thyssenkrupp plans to cut
  11\,000 jobs. Steelworkers across Europe are angry and worried about los
 ing their livelihoods. The European metals industry is in crisis: U.S. ta
 riffs\, skyrocketing energy prices\, global overcapacity\, and competitio
 n from cheap Chinese steel are all taking a toll. Is there still a future
  for Europe’s heavy industry? The European Commission says yes.Currentl
 y\, global steel production far exceeds demand. Now\, the new U.S. admini
 stration is threatening to impose 25% tariffs on steel and aluminum impor
 ts. This could redirect international trade flows from the U.S. to the Eu
 ropean market. In response\, the European Commission is trying to preserv
 e what can be saved through a “Steel Action Plan.” It calls this stra
 tegy for industrial competitiveness and decarbonization the “Clean Indu
 strial Deal.”Foreign suppliers are attempting to flood the EU market wi
 th goods at dumping prices. To protect European producers from being wipe
 d out by cheap\, unfair imports\, the EU will introduce a new tool in 202
 6: the Carbon Border Adjustment Mechanism (CBAM). Under this mechanism\, 
 non-EU producers of cement\, aluminum\, iron\, and steel will be required
  to pay a CO₂ tax at the EU’s borders for environmentally harmful goo
 ds.To prepare Europe’s industry for a sustainable future\, the EU plans
  to attract €100 billion in investment. However\, the industrial founda
 tions of Europe remain at risk. Germany aims to become carbon-neutral by 
 2045—a goal achievable only if steel is produced using electricity or h
 ydrogen instead of coal. The European Commission supports this transition
 \, and Thyssenkrupp has also committed to the goal of “green steel.”S
 ource: Euronews
END:VEVENT
END:VCALENDAR