EU, steel deal: more tariffs and import cuts

The initiative is to be seen in the broader attempt to protect the internal market, with even protectionist measures. Similarly, the Industrial Accelerator Act, the draft law that is to be used to impose a minimum percentage of European components and environmental requirements in public procurement and in the use of subsidies at national level in certain sectors, should also be considered.

The understanding reached on Monday evening also provides for constant monitoring of the steel market in order to intervene again if necessary. An initial examination will be carried out as early as six to twelve months after entry into force. To avoid possible circumvention, the regulation requires that the country in which the steel was actually produced be identified (the principle of melt and pour, in English). The agreement must now be approved by the Parliament and then by the Council. The new rules will replace the current safeguard measures, which expire on 30 June.

From Rome, Enterprise Minister Adolfo Urso said: 'The Italian position has passed thanks to important teamwork. That said, Italia was not the only country to support the need for action. France and Germany also pushed for Brussels to present radical measures at the hands of single market commissioner, Frenchman Stéphane Séjourné. The German trade unions played a particular role.

Even the metal trade union IG Metall said yesterday that it was dissatisfied with the still insufficient measures. 'Trade policy alone cannot guarantee the survival of the European steel sector,' said Jürgen Kerner, the deputy general secretary of IG Metall and member of ThyssenKrupp's supervisory board. 'Policy must strengthen demand through growth support and investment incentives'.