{"id":19741,"date":"2025-04-30T08:36:45","date_gmt":"2025-04-30T05:06:45","guid":{"rendered":"https:\/\/diihk.com\/043020250834\/"},"modified":"2025-05-06T09:19:56","modified_gmt":"2025-05-06T05:49:56","slug":"043020250834","status":"publish","type":"post","link":"https:\/\/diihk.com\/en\/news\/043020250834\/","title":{"rendered":"EU Plan to Rescue Europe&#8217;s Steel Industry"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"19741\" class=\"elementor elementor-19741 elementor-19566\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-69bd2831 e-flex e-con-boxed e-con e-parent\" data-id=\"69bd2831\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-39f1e9c3 elementor-widget elementor-widget-heading\" data-id=\"39f1e9c3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\"><b>EU Plan to Rescue Europe's Steel Industry<\/b><\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-34bf523 elementor-widget elementor-widget-text-editor\" data-id=\"34bf523\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Starting next year, non-European producers of cement, aluminum, iron, and steel will have to pay a CO\u2082 tax at the EU\u2019s borders when importing environmentally unfriendly goods.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-204ab83e elementor-widget elementor-widget-text-editor\" data-id=\"204ab83e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p class=\"\" data-start=\"224\" data-end=\"622\">Germany\u2019s steel giant Thyssenkrupp plans to cut 11,000 jobs. Steelworkers across Europe are angry and worried about losing their livelihoods. The European metals industry is in crisis: U.S. tariffs, skyrocketing energy prices, global overcapacity, and competition from cheap Chinese steel are all taking a toll. Is there still a future for Europe\u2019s heavy industry? The European Commission says yes.<\/p><p class=\"\" data-start=\"624\" data-end=\"1074\">Currently, global steel production far exceeds demand. Now, the new U.S. administration is threatening to impose 25% tariffs on steel and aluminum imports. This could redirect international trade flows from the U.S. to the European market. In response, the European Commission is trying to preserve what can be saved through a \u201cSteel Action Plan.\u201d It calls this strategy for industrial competitiveness and decarbonization the \u201cClean Industrial Deal.\u201d<\/p><p class=\"\" data-start=\"1076\" data-end=\"1492\">Foreign suppliers are attempting to flood the EU market with goods at dumping prices. To protect European producers from being wiped out by cheap, unfair imports, the EU will introduce a new tool in 2026: the Carbon Border Adjustment Mechanism (CBAM). Under this mechanism, non-EU producers of cement, aluminum, iron, and steel will be required to pay a CO\u2082 tax at the EU\u2019s borders for environmentally harmful goods.<\/p><p class=\"\" data-start=\"1494\" data-end=\"1915\">To prepare Europe\u2019s industry for a sustainable future, the EU plans to attract \u20ac100 billion in investment. However, the industrial foundations of Europe remain at risk. Germany aims to become carbon-neutral by 2045\u2014a goal achievable only if steel is produced using electricity or hydrogen instead of coal. The European Commission supports this transition, and Thyssenkrupp has also committed to the goal of \u201cgreen steel.\u201d<\/p><p class=\"\" data-start=\"1917\" data-end=\"1939\"><strong data-start=\"1917\" data-end=\"1937\">Source: Euronews<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Starting next year, non-European producers of cement, aluminum, iron, and steel will have to pay a CO\u2082 tax at the EU\u2019s borders when importing environmentally unfriendly goods.<\/p>\n","protected":false},"author":4,"featured_media":19568,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-19741","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin 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