Merz backs EU plan to protect steel sector from Chinese imports
www.france24.com
Germany supports proposals by the EU to increase tariffs on foreign steel as the bloc struggles with cheap imports, especially from China, Chancellor Friedrich Merz said Thursday.

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The EU in October floated plans to double tariffs on foreign steel – taking a leaf from US President Donald Trump’s book to shield the bloc’s struggling industry from cheap Chinese exports.

The bloc’s executive proposed hiking levies on steel imports to 50 percent and slashing the volume allowed in before tariffs apply by 47 percent.

“I will support these proposals to the best of my ability and hope that appropriate regulations will be put in place,” [German chancellor Friedrich] Merz said.

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As an addition:

  • The steel industry is one of the most subsidized industrial sectors across all countries, mainly to preferential loan terms as debt is the sole source of funding in the industry.

  • Across all countries, larger steel firms are subsidized than smaller ones, and state-owned enterprises receive more subsidies than other firms.

  • China is by far the largest steel maker, producing more than half of all crude steel in the world. China’s subsidization rate is ten times that of OECD countries. In addition to government grants and below market borrowings, measures include subsidized energy prices and preferential tax treatment for steel firms.

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  • unexposedhazard@discuss.tchncs.deEnglish
    22·
    9 hours ago

    There are plenty of things to criticize about China (like slave labor, work conditions, etc), but this is just not one of them. If the western markets cant keep up with the chinese investing into their own production capacity, then thats not an “issue” caused by China, its just China being better at the game. Europe has fucked up big time. Solar started here and was about to take off massively in Germany 15-20 years ago and then our government simply decided to stop subsidizing the adoption and instead gave all that money to fossil fuel companies. This is entirely self inflicted and suggesting that there is anyone else to blame but ourselves is absurd. The unions here are just complaining now because people are about to lose their jobs. They should have started complaining many years ago when our government and the companies decided to fuck us all over by investing in dead technologies.