Stéphane Séjourné, the nominee to lead the European Union's (EU) industrial strategy, has pledged to draw up a comprehensive plan in the first 100 days of his mandate to ensure the survival of the European steel industry, threatened by high energy costs and global overproduction led by China.

During his confirmation hearing, Séjourné stressed that steel is essential for key sectors such as transport, energy and construction. He also said he would seek to unlock investments in decarbonisation and establish a clear framework for the future of the sector, while the current safeguard measures, in force until June 2026, cannot be extended under the rules of the World Trade Organisation (WTO) and the EU itself.

Séjourné indicated interest in extending the Carbon Border Adjustment Mechanism (CBAM) to downstream sectors, which could increase costs for carbon-intensive imports. He will also oversee the implementation of the regulation on foreign subsidies and critical minerals, as, with European steel at a disadvantage compared to Chinese production, the EU will seek to balance the scales through trade mechanisms and domestic support that strengthen the competitiveness of its industry.

Source: Inside Trade