The past 15 years have been «years of slow death» for the European steel industry

Philippe Meyran, President of ArcelorMittal in Spain, has questioned the effectiveness of the measures being implemented in the EU. Specifically, he referred to the new “trade shield,” which, starting in July 2026, will double tariffs on steel imports—from 25% to 50%—for volumes exceeding established quotas. This was reported by La Voz de Asturias.

He believes that despite the protective measures, uncertainty caused by armed conflicts and other external factors will make the end of the current fiscal year “less active.”

The top executive noted that the last 15 years have been “years of slow death” for the industry. He cited statistics: while in 2012 the share of steel imports in Spain was 22%, last year it exceeded 50%. According to him, each subsequent year has been worse than the previous one.

Electric arc furnace technology has been known for a long time, but it remains more expensive than the traditional model using blast furnaces.

“What manufacturer is going to invest in production at a higher cost and sell at the same price as before? No one,” Meiran emphasized.

According to the company’s president, political authorities have a direct impact on the industry’s competitiveness. He identified the following as the main obstacles:

1. Electricity prices: in the EU, they are significantly higher than in neighboring regions.

2. Regulatory instability: constant legislative changes create uncertainty for an industry where investment cycles span 15–20 years.

The Council of the European Union has outlined its position in detail regarding new safeguard measures on steel imports. Specifically, the annual quota volume has been set at 18.3 million tons, with a 50% tariff on shipments exceeding the quota.

The allocation of quotas by product category should be based on the import shares of specific products during the 2022–2024 period. This reference period is considered appropriate because it accurately reflects the latest trade flows.