France to seek protection from Chinese steel imports after ArcelorMittal job cuts
PARIS, April 24 (Reuters) - France and other European countries will push for measures to protect the European steel industry against Chinese imports, French government spokesperson Sophie Primas said on Thursday.
Primas was responding to an announcement by steel manufacturer ArcelorMittal (MT.LU), opens new tab that it will eliminate around 600 jobs across seven French sites due to the crisis in Europe's steel industry.
The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here.
"We have taken some first steps, notably on the question of quotas and the introduction of Chinese steel quotas, but we must go further and France is at the forefront," Prima told broadcaster CNews/Europe1.
Steelmakers across Europe have been hit by high energy prices and competition from cheap Chinese imports. They also now face larger tariffs on exports to the United States.
Primas said Chinese overproduction of steel was partly to blame for the reduced competitiveness of Europe's steel industry.
In a statement sent to its Works Council on Wednesday, ArcelorMittal France North said it had "implemented all possible short-term adaptation measures, but the company must now consider reorganisation measures to adapt its business to the new market context and to ensure its future competitiveness".
Arcelor's move follows a similar announcement by competitor Tata Steel, which earlier this month said it would scrap around 20% of the jobs at its large plant in the Netherlands.
ArcelorMittal's job cuts have prompted criticism of the steelmaker, which has benefited from French government subsidies amid a push to reindustralise portions of the country.
"We have fought hard to ensure that the government and the European Union support the financing of the decarbonisation that is essential to ArcelorMittal," said Xavier Bertrand, the president of Hauts de France, a region housing several of the sites affected by the job cuts.
"It is time for the group to tell us when these investments will be made," he said in a post on X.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South Wales Argus
33 minutes ago
- South Wales Argus
New car market returns to growth
Industry body the Society of Motor Manufacturers and Traders (SMMT) said 150,070 new cars were registered last month, up from 147,678 in May 2024. This represented the best May performance since 2021 and was only the second month of 2025 with year-on-year growth. Registrations of pure battery electric new cars rose by 25.8% to take a market share of 21.8%, up from 17.6% a year earlier. The SMMT said this was partly a result of manufacturers offering discounts to boost sales. It noted that under the Government's zero emission vehicle (Zev) mandate, at least 28% of new cars sold by each manufacturer in the UK this year must be zero emission, which generally means pure electric. Across all manufacturers, the year-to-date figure is 20.9%. SMMT chief executive Mike Hawes said: 'A return to growth for new car registrations in May is welcome but manufacturer discounting on new products continues to underpin the market, notably for electric vehicles. 'This cannot be sustained indefinitely as it undermines the ability of companies to invest in new product development – investments which are integral to the decarbonisation of all road transport. 'Next week's spending review is the opportunity for Government to double down on its commitments to net zero by driving demand through fiscal measures that boost the market and shore up our competitiveness.' Ian Plummer, commercial director of online vehicle marketplace Auto Trader, said: 'Despite recent geopolitical volatility, the fundamentals of the car market remain sound, and the sharp rise in electric vehicle sales against last year demonstrates real momentum. 'Electric demand is being driven by new affordable models like the Renault 5 and the Hyundai Inster, along with fast growing Chinese brands like BYD and Omoda-Jaecoo, which will be key to mass market adoption. 'Around one in four of all new cars viewed on our website is electric and we know that when the price is right, drivers are keen to make the switch.' Ben Nelmes, chief executive of green consultancy New AutoMotive, said: 'May's figures are a clear indicator that the UK's journey to electric mobility is not just on track, but accelerating. 'The Zev mandate is clearly working, encouraging manufacturers to bring more electric models to the market and making it easier for drivers to make the switch.'
Glasgow Times
34 minutes ago
- Glasgow Times
New car market returns to growth
Industry body the Society of Motor Manufacturers and Traders (SMMT) said 150,070 new cars were registered last month, up from 147,678 in May 2024. This represented the best May performance since 2021 and was only the second month of 2025 with year-on-year growth. Registrations of pure battery electric new cars rose by 25.8% to take a market share of 21.8%, up from 17.6% a year earlier. The SMMT said this was partly a result of manufacturers offering discounts to boost sales. It noted that under the Government's zero emission vehicle (Zev) mandate, at least 28% of new cars sold by each manufacturer in the UK this year must be zero emission, which generally means pure electric. Across all manufacturers, the year-to-date figure is 20.9%. SMMT chief executive Mike Hawes said: 'A return to growth for new car registrations in May is welcome but manufacturer discounting on new products continues to underpin the market, notably for electric vehicles. 'This cannot be sustained indefinitely as it undermines the ability of companies to invest in new product development – investments which are integral to the decarbonisation of all road transport. 'Next week's spending review is the opportunity for Government to double down on its commitments to net zero by driving demand through fiscal measures that boost the market and shore up our competitiveness.' Ian Plummer, commercial director of online vehicle marketplace Auto Trader, said: 'Despite recent geopolitical volatility, the fundamentals of the car market remain sound, and the sharp rise in electric vehicle sales against last year demonstrates real momentum. 'Electric demand is being driven by new affordable models like the Renault 5 and the Hyundai Inster, along with fast growing Chinese brands like BYD and Omoda-Jaecoo, which will be key to mass market adoption. 'Around one in four of all new cars viewed on our website is electric and we know that when the price is right, drivers are keen to make the switch.' Ben Nelmes, chief executive of green consultancy New AutoMotive, said: 'May's figures are a clear indicator that the UK's journey to electric mobility is not just on track, but accelerating. 'The Zev mandate is clearly working, encouraging manufacturers to bring more electric models to the market and making it easier for drivers to make the switch.'
Leader Live
36 minutes ago
- Leader Live
Wizz Air profit slumps after grounding planes over engine issues
Shares in the firm plunged by about a quarter after unveiling its annual financial results. The Hungarian company said it was flying more passengers than ever despite the 'significant challenges' it faced. It reported an operating profit of 167.5 million euros (£141 million) for the year to the end of March, about a 62% drop from the 437.9 million euros (£368.7 million) generated the previous year. Nevertheless, revenues for the group edged up 3.8% and it carried a record 63.4 million passengers. The low-cost European airline was forced to ground an average of 44 planes over the year because of issues with the engines, which are made by US aerospace manufacturer Pratt & Whitney. This amounted to almost a fifth of the entire fleet. Wizz secured a two-year compensation package with Pratt & Whitney at the end of 2024 over the grounding of Airbus A320neo aircraft. It said the support was set to mitigate 'some, but not all, of the operational and financial impacts on the business'. Jozsef Varadi, Wizz Air's chief executive, said: 'Despite the unproductivity of a grounded fleet, we successfully delivered a second consecutive year of profitability. 'The number of grounded aircraft will start reducing in both absolute and relative terms and this is why we have reached a transformation point.' It had 37 planes on the ground last month, and is expecting roughly 34 to remain grounded by the end of September. The company also flagged higher airport and flight costs that helped drive up its total expenses by a 10th year-on-year. Airport, maintenance, and crew costs have been rising, while the European air traffic controller increased charges from the start of the year, Wizz Air told investors. Wizz Air said it was not providing a forecast for the year ahead because of uncertainties, but that it was expecting revenues to be higher. Susannah Streeter, head of money and markets for Hargreaves Lansdown, said: 'The airline is still mired in problems, and although management have said the number of grounded aircraft will start reducing, the issues are expected to linger for two to three years. 'There's clearly significantly more opportunity for the company to seize, with so many more people ringfencing budgets to spend on holidays. 'But until the company can fly away from its operations problems, investor sentiment is set to remain subdued, especially given the concerns about potential geopolitical turbulence which are also clouding its route ahead.'
