EUROFER: European steel industry under pressure from US tariffs

As the July 9 deadline for a new trade agreement between the EU and the US approaches, EUROFER warned that without a compromise, the continuation of these punitive tariffs would deal a severe blow to an already struggling European steel sector.

According to EUROFER data, steel production in Europe has decreased by 31 million tons since 2018. Imports now account for 27% of the European market share. Along with the announcement of 18,000 job cuts in 2024, a total of 95,000 jobs have been lost since 2008.

The association stressed that rising import pressure, falling prices, and unfair competition from countries with lower environmental and climate standards are squeezing European steel producers from all sides.

EUROFER called on the EU and international stakeholders for urgent measures to protect the industry, stating, “Europe cannot build a clean, resilient industrial future while allowing its steel industry to erode.”