ArcelorMittal Responded to Steels and Metals Action Plan by European Commission
The European steel industry contributes around €80 billion to the region’s GDP and supports over 2.6 million jobs.
SEATTLE (Scrap Monster): Prominent steel manufacturer ArcelorMittal has offered feedback on the European Commission's (EC) new Steels and Metals Action Plan.
The Action Plan seeks to ensure that Europe's steel and metals sector is both competitive and decarbonized. It is intended to protect the industry's future and increase the sector's competitiveness.
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The company is excited by the trajectory indicated in the Action Plan, said Aditya Mittal, CEO of ArcelorMittal. According to the Plan's contents, European leaders are aware of how urgent the situation is and are prepared to handle important issues including trade defense, the Carbon Border Adjustment Mechanism's flaws, and the requirement for appropriate legislation to increase demand for low-carbon steel.
Mittal noted that in order to address problems like unfair trade and the dumping of steel goods into the area, the Plan must now be backed by swift action. In order to dissuade the industry from proceeding with decarbonization initiatives, he encouraged the regional administration to address the problem of growing energy costs. In order to build on the momentum, he also stated his openness to interact with the Commission and other European leaders.
The European steel sector supports more than 2.6 million employment and adds over €80 billion to the GDP of the region.
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