A Belgian-based multinational steel manufacturing corporation, ArcelorMittal, has expressed optimism about steel demand in Europe after the European Union's intervention.
Last year, the EU introduced a carbon border tax and tightened import quotas, aimed at restoring profitability and protecting Europe’s steel market from external disruptions.
Concerns first arose after former US President Donald Trump imposed high tariffs on steel imports, prompting fears that cheap Chinese steel would flood the European market.
In response, Brussels reduced the quota for duty-free steel imports and doubled the tariff on other steel shipments to 50%.
CEO of ArcelorMittal, Aditya Mittal, stated that these protectionist measures were essential. The company, which operates a major steel plant in Ghent, expects substantial benefits from the increased demand for EU-produced steel.
The company anticipates seeing a positive impact on financial results after the first half of 2026.
