ArcelorMittal welcomes today’s European Commission proposal for strengthened trade defence. New tariff quotas, to replace the current safeguard, are vital for the survival of the steel industry in Europe, which is in crisis due to the volume of low-priced imports arriving in the EU coupled with shrinking demand and weak economic conditions.

Speaking about the new tariff quota proposal, Aditya Mittal, CEO ArcelorMittal, said: 

“On behalf of all the employees of ArcelorMittal in Europe, I am sincerely relieved by the proposals that have been announced today to support the European steel industry.

“I would like to thank the Commission and the member states for understanding the criticality of the situation and acting appropriately and decisively. The European steel industry and manufacturing more broadly can have a much stronger future now, and today marks a step in that direction.”  

Geert Van Poelvoorde, CEO ArcelorMittal Europe, added:  

“ArcelorMittal and the European steel producers have been heard – today, we can breathe a sigh of relief, with the European Commission’s announcement of the new, strengthened tariff quota proposal. We thank the Commissioners for the time and attention they have taken to understand the challenges facing our industry. 

We will continue to press for a swift introduction of the new tariff quota, as published today, in recognition of the severity of the challenges facing the steel industry in Europe. 

We are also awaiting an announcement from the Commission regarding the revised Carbon Border Adjustment Mechanism (CBAM) by the end of this year. We hope that the trade proposal unveiled today is an indication that our concerns will be reflected in the further measures to be announced in line with the Steel and Metals Action Plan. There is still a considerable way to go, to have the level playing field that European steelmakers need to compete. However, today’s proposal, together with an effective CBAM, will help to stem the shrinking of the steel industry in Europe”.