EU industry chief hints more financial support for steel industry

Ahead of Séjourné's hearing, European steel social partners, supported by cross-party MEPs, on Tuesday jointly called for an EU Steel Action Plan and voiced the urgency to restore steel's competitiveness and save its green transition as well as steelworkers' jobs across Europe, Mysteel Global has learned.

In his statement, Séjourné emphasized the EU's need to simultaneously decarbonize and reindustrialize, announcing the development of a future pact on clean industry. This pact aims to lay the groundwork for an industrial policy that aligns with the challenges and opportunities of the current era.

Séjourné also advocated for prioritizing strategic sectors with the highest potential and socioeconomic impact. He highlighted the importance of lowering energy prices and fostering thriving markets for products such as electric vehicles and heat pumps.

Another key part of his statement focused on reinforcing the EU's single market. "Right now, we have 27 markets," he remarked, underscoring the importance of further integration. Additionally, he pledged that EU public procurement would place greater emphasis on criteria like quality, sustainability, and resilience in the future.

Addressing questions about the automotive sector, Séjourné was asked whether the Commission would uphold the agreed decarbonization targets for the industry. He affirmed the need for predictability, promising to take act on the demand side to help automakers meet their targets.

When other Members of the European Parliament (MEPs) raised concerns about protecting EU companies from unfair competition and safeguarding EU consumers from substandard goods from third countries, Séjourné stressed the importance of finalizing customs reform to ensure more effective checks at EU borders.

Written by Adele Pan, panqinjie@mysteel.com 

Edited by Alyssa Ren, rentingting@mysteel.com