Green steel as a lifeline? EU Commission protects European metal industry from unfair competitors

Germany's steel giant ThyssenKrupp wants to cut 11,000 jobs. Europe's metal industry is in crisis. US tariffs, exorbitant energy prices, global overcapacity, competition from cheap steel from China... The European Commission is trying to save what can be saved - with a 'Steel Action Plan'. 

The European Commission calls its strategy for industrial competitiveness and decarbonisation the 'Clean Industrial Deal'. Far too much steel is produced worldwide. And now the new US government is also threatening tariffs: 25 percent on all steel and aluminium imports. As a result, there is a risk of international trade flows being diverted away from the USA and towards the European internal market.

Foreign suppliers are trying to conquer the EU market with dumping prices. To prevent unfairly produced cheap steel from breaking the necks of European steel manufacturers, a new protection instrument will be introduced in 2026: CBAM, the EU's Carbon Border Adjustment Mechanism. Non-European manufacturers of cement, aluminium, iron and steel must pay a CO2 tax on non-sustainably produced goods at the EU border.

In order to make Europe's industry fit for a sustainable future, the EU wants to mobilise investments of 100 billion euros. There is a lot at stake, not least Europe's industrial foundations.

Germany wants to be climate-neutral by 2045. This is only possible if steel is no longer produced with coal, but with electricity or hydrogen. The EU Commission is helping with the changeover. Germany's steel giant ThyssenKrupp is also firmly committed to the goal of 'green steel'.

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