News » EUROFER supported the 'EU trade policy under pressure: The example of steel' virtual conference
EUROFER supported the 'EU trade policy under pressure: The example of steel' virtual conference
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This event took place on 16 November.
The EU is at a crossroads, having suffered a sharp economic and social hit in recent months. The European Commission predicts a drop in EU GDP of 7.5 per cent in 2020. However, even in 2019, there were signs of underlying frailty in the EU economy.
Despite this, the EU has ambitious plans for its future, aiming to go green, digital and high-tech. But the global challenges remain the same: third countries taking advantage of the EU’s open borders and markets whilst refusing to share the same high ambition to decarbonise by 2050. EU trade policy is thus under pressure. It must evolve to meet rising competition abroad while giving the space for EU companies to
survive, thrive and go green.
This recession will have severe effects on global supply chains, especially if countries around the world seek to dump products on world markets to make up for a loss of local demand.
Join this EURACTIV Virtual Conference, supported by EUROFER, to discuss the crossroads we find ourselves at. If Europe is to thrive, how can EU trade be ready for a vastly different global future? How will industries, such as steel, fare? Questions to be discussed:
How can the multilateral trade framework be strengthened to ensure stability, predictability and a rules-based environment for fair and sustainable trade for EU companies?
16 November, 2020 - online.
14:30 – 14:35 Welcome
14:35 – 14:50 Panelists statements
14:50 – 15:40 Discussion and Q&A
15:40 – 15:45 Closing statements
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Brussels, 25 July 2024 – Major indicators in the European steel market show a steeper-than-expected downward trend, further impacting the outlook for this year and the next. Poor demand conditions, driven by ongoing factors such as high energy prices, persistent inflation, economic uncertainty and geopolitical tensions, are exacerbated by a manufacturing crisis affecting the largest steel-using sectors, including construction and automotive. According to EUROFER’s latest Economic and Steel Market Outlook, apparent steel consumption is further deteriorating. After a slump (-3.1%) in the first quarter of 2024, its rebound for the full year has been revised downwards (to +1.4% from +3.2%), as well as for 2025 (+4.1% from +5.6%). Similarly, output in steel-using sectors, after a decline in the first quarter (-1.9%), is projected to experience a deeper-than-expected recession (-1.6% from -1%). A recovery is anticipated only in 2025 (+2.3%). Steel imports continue to show historically high shares (27%).
Third quarter 2024 report. Data up to, and including, first quarter 2024
Picture Copyright: European Union, 2024 Source: EC - Audiovisual Service
Brussels, 18 July 2024 – The re-election of Ursula von der Leyen as President of the European Commission paves the way for the continuation of the ambitious initiatives started in her first term. For a stronger and prosperous Europe, defining a pragmatic set of measures within the first 100 days of the new Commission mandate is the right step forward to ensure the success of the EU’s industry transition, if properly implemented. The European Steel Association urges that the Clean Industrial Deal be complemented as a priority by a European Steel Pact, as proposed by the German delegation to the European People’s Party (EPP).