New Steel Regime Urgently Needed
Timely Implementation of the New Steel Regime Is Essential, Says Commissioner Kadis in the Ep
During a debate held in the plenary session of the European Parliament in Strasbourg on the negative trade-related effects of global overcapacity in the Union steel market, extensive reference was made to the pressures faced by the European steel industry and to the measures promoted by the European Commission to protect it. It is noted that the relevant vote on the report will take place on Tuesday.
The Commissioner for Fisheries and Oceans, Costas Kadis, in his address underlined that Europe is the third-largest steel producer worldwide, with the sector supporting around 300,000 jobs in the EU, stressing that this is a critical part of the economy and that maintaining a strong and sustainable European steel industry is essential.
He pointed out that in recent years the sector has been affected by high levels of global overcapacity, which are expected to reach 721 million tonnes by next year—an amount corresponding to more than five times the EU’s annual steel consumption. He noted that this development has already led to losses of 65 million tonnes in production and up to 100,000 jobs in Europe over the past two decades.
The Commissioner stated that international efforts within the framework of the Global Forum on Steel Excess Capacity have not delivered the expected results, which has led the European Union to the need to adopt an autonomous protective measure for the sector, following the expiry of the current safeguard mechanism on 30 June 2026.
Kadis noted that the timely adoption and implementation of the new framework from 1 July 2026 is considered critical in order to avoid a protection gap that could lead to increased imports, price pressure, stockpiling, and potentially further losses in production activity within the EU.
The Commissioner also stressed the importance of international cooperation in addressing global steel overcapacity, while expressing his gratitude to the co-legislators and the Presidency of the Council for their contribution to reaching an agreement and advancing a workable framework for the sector.
He stated that the final text reflects the scale of the challenge faced by the European steel industry and highlights the EU’s ability to act swiftly and in a coordinated manner to protect strategic industrial sectors.
