Industry summit invitations extended by Merz to steel sector
In a bid to support the struggling steel industry in Germany, Chancellor Friedrich Merz has invited key representatives from the sector to a summit at the Chancellery in Berlin. The summit, aimed at finding solutions to the challenges faced by the industry, is scheduled to take place following consultations with coalition leaders.
At the forefront of the employee delegation will be Christiane Benner, the chairwoman of IG Metall, the metalworkers' union in Germany.
The steel industry in Germany has been facing a significant decline in production, with domestic crude steel production falling by nearly 12 percent in the first half of the year to 17.1 million tons. This decline is attributed to a combination of factors, including weak domestic demand, high energy prices, and increased competition from Asia.
One of the major challenges for the industry has been the tariffs on steel and aluminum imports in the US. Initially, these tariffs were set at 25 percent, but US President Donald Trump increased them to 50 percent in early June. Moreover, the tariffs now extend to hundreds of additional products beyond the primary metals themselves, affecting a wide range of industries such as motorcycles and crane vehicles.
Vice Chancellor Lars Klingbeil (SPD) and several federal states have already called for an industry meeting to discuss possible aid in light of these tariffs. Chancellor Merz has also highlighted the pressure the steel industry is under from dumping offers from China, which further complicates the situation.
The summit will bring together producers and employee representatives to discuss ways to achieve the goal of maintaining steel production in Germany long-term. The industry meeting will be a crucial step in addressing the challenges faced by the German steel industry and ensuring its continued success.
