European steelmakers weigh in on EU Steel Action Plan
The European Commission announced on Wednesday an action plan to make Europe's ailing steel sector more competitive and to shield it from the impact of U.S. tariffs on imports of steel and aluminium, prompting reactions from major industrial actors, analysts, and think tanks. The Steel and Metals action plan, a key component of the EU's Clean Industrial Deal, aims at reviving its industries to stay competitive with Chinese and U.S. rivals. European steelmakers, which have long complained about cheap Chinese imports, are also warning about a possible flood of surplus steel into the region, as exports destined for the U.S. could be diverted to Europe due to U.S. tariffs.