EU Safeguard measure officially extended until June 2026
EU Safeguard measure officially extended until June 2026

25 June 2024 – The European Commission has officially extended EU Safeguard Measure until June 2026 despite massive criticism from European consumers. And will thyssenkrupp Steel Europe have its own climate targets confirmed in order to enable indulgence payments for CO2 emissions?

EU Safeguard Measure officially extended until June 2026

The European Union today officially announced the extension of the Safeguard Measure on certain steel products until 30 June 2026. The European Commission has also made some unpopular changes to the Safeguard Measure, such as reducing the liberalisation quotas from 4 to 1% per year and introducing a maximum import volume of 15% per country of the duty-free quota available at the beginning of the quarter for product categories 1 and 16.

In particular, the limitation of the maximum import quantities met with widespread protests from consumer organisations after it was announced, but, as is so often the case, these either came too late or were completely ignored by the EU grandees.

Counter-evidence not welcome by the Commission

The justification for the extension of the safeguard measure also shows that the Commission did not take any account of the counter-arguments put forward by a broad spectrum of market participants in its judgement. This is another example of the dishonest methods that the von der Leyen system is prepared to resort to in order to maintain its own power.

Diversionary tactics at thyssenkrupp?

In June 2024, thyssenkrupp Steel Europe (tkSE) had its own climate targets confirmed by an external organisation. However, tkSE naturally forgot to mention in the associated press release that this organisation is accused of massive influence from multinational corporations, which have been trying to soften the climate targets of this organisation for several years.

Indulgence payments: Is the steel giant buying its way out of real CO2 reduction?

The fact that it is now possible to buy its way out of the obligation to reduce CO2 emissions with indulgence payments was probably one of the main reasons for having its own climate targets certified as “scientifically based”. The German steel giant is one of the biggest CO2 polluters in Europe.

Thyssenkrupp without job cuts after all?

Many are no doubt now looking with similar scepticism at the Group’s latest claims, which suddenly rule out redundancies due to the necessary restructuring of steel production. The announcement by tkSE to reduce production capacity at its Duisburg plant by more than 2 million tonnes of crude steel was also used as one of the EU’s key arguments for extending the safeguard measure.

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