BERLIN / LONDON (IT BOLTWISE) – The SPD is calling for higher EU tariffs to protect the steel industry in order to protect jobs from cheap competition from China. Parliamentary group leader Matthias Miersch is also calling for an industrial electricity price to strengthen Germany’s competitiveness.
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The SPD parliamentary group in the Bundestag has spoken out in favor of introducing higher EU tariffs in order to protect the European steel industry from cheap competition from countries such as China. Matthias Miersch, parliamentary group leader of the SPD, emphasized the importance of this measure for preserving thousands of jobs in this central industry. He called on the Federal Government to strongly support the European Commission’s proposal.
At the beginning of October, the European Commission announced protective measures that would drastically reduce duty-free import volumes. Imports that exceed these quantities should be subject to a doubled tariff rate of 50 percent. However, these measures require the consent of EU member states in order to come into force.
In addition to the customs measures, Miersch is pushing for the introduction of an industrial electricity price, which would have to be approved by the EU Commission. He argues that energy prices play a crucial role for Germany as a location. The federal government plans to introduce a state-subsidized, cheaper electricity price for industry in order to increase competitiveness.
The discussion about the future of the steel industry will also continue at a planned steel summit on November 6th. Further measures to secure the industry and strengthen Germany’s competitiveness will be discussed here. The SPD sees the combination of tariff protection and low energy prices as an important step towards stabilizing the industry.
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