Riegel/Strasbourg, 21 October 2024 – Ahead of the European Parliament debate on “Tackling the Steel Crisis” this Wednesday, the Gerber Group warns against misguided political support for the EU’s steel lobby — and the severe consequences this could have for Europe’s small and medium-sized enterprises (SMEs).
EU Steel Policy Threatens SMEs – Gerber Group Calls for Political Rebalance
The trigger: An open letter from EUROFER, the steel producers’ association, calling for more subsidies, continued trade protection, and a weakening of the Carbon Border Adjustment Mechanism (CBAM). In response, Thorsten Gerber, CEO of the international stainless and aluminium trading company Gerber Group, issued a strong appeal to MEPs.
“It threatens the competitiveness of millions of SMEs”
“Giving in to this narrative would come at a high cost,” Gerber stated. “It threatens the competitiveness of millions of SMEs and more than 11.5 million jobs in the processing and consuming industries — from metalworking to automotive.”
According to Gerber Group’s analysis, EU steelmakers have achieved record revenues of up to €238 billion annually — with turnover increases far above inflation. Meanwhile, they demand even more protectionism and billions in public funding.
“This is not a crisis — it’s profiteering,” Gerber said. “And it’s SMEs who pay the price, with fewer sourcing options and less freedom to operate.”
The Gerber Group also criticizes the timing of the debate — just before the new EU Commission takes office — as a rushed move to push through protectionist policies without proper scrutiny. Even the European Central Bank has recently warned against the economic damage caused by such trade measures.
Gerber Group urges the Parliament to reject these demands and protect Europe’s SME-driven industrial base — before it’s too late.
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