Recently, there has been news out of Europe that shows the far reaching effect of Section 232.
The European steel association, Eurofer, says their steelmakers are facing higher pressure from steel imports because of US Section 232. European steel import volumes have doubled from 2013 levels.
In response to the threat, the European Commission (EC) is looking to add eco-duties to imported steel in order to equalize the production costs between imported and domestically produced steel.
This action is part of European steelmakers’ measures to protect their steel industry.
The AMM reports, “European steel producers have to face high emissions costs while non-EU mills do not, giving them a benefit when shipping material to Europe.”
Beyond a free permit of 1 ton carbon monoxide emission, EU companies must pay for further carbon emission permits. Therefore, domestic steel producers have substantially higher production costs than steel producers from other countries outside of the EU.
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