Outokumpu Welcomes Stronger EU Steel Trade Measures

Espoo, Finland – Outokumpu Corporation, Europe’s leading producer of stainless steel, has welcomed the European Commission’s proposal to strengthen trade protection measures for the EU steel industry. The company views the proposed changes as a critical step towards safeguarding Europe's industrial base, ensuring economic stability, and advancing the green transition.

The European Commission’s proposal includes several key adjustments. It suggests reducing tariff rate quotas (TRQ) for foreign steel imports by up to 50%. Tariffs on imports exceeding these quotas are proposed to increase from 25% to 50%, aligning with measures already in place in the United States and Canada. The proposal also aims to better identify the country of origin for steel (melted and poured) and intends to make safeguards permanent, subject to periodic reviews.

Outokumpu emphasizes that these measures are necessary to ensure fair competition and protect sustainable European production. The company argues that current safeguards are insufficient against global overcapacity and unfair trade practices, stating that import surges threaten jobs, innovation, and Europe's decarbonization goals. The firm believes retaining the steel industry's competitiveness is vital for Europe’s strategic autonomy and economic resilience.

These stronger trade defense measures are seen as a way to attract investment and create jobs, while protecting European industry. The company highlights the need for such actions, especially as U.S. steel tariffs divert global excess production towards the EU market. Outokumpu also points to the sustainability aspect, arguing that the measures will prevent low-carbon European steel from being displaced by high-carbon products from Asian countries.