10 January 2025 – Positive outlook: The year 2024 has created a solid basis for future investments, especially in the United States and China. EU Safeguard: Why are there bad odours coming from Brussels again? Is the steel lobby calling on the Commission to break the law? EESC: Renewed calls for CBAM changes – costs too high for companies, farmers and society!
Positive outlook for 2025: More room for investment
The year 2024 has created a solid basis for future investments worldwide. Thanks to falling inflation, central banks are cautiously easing their interest rate policy to promote economic growth. In the US, tax cuts, fewer regulations and massive investment programmes in technology and infrastructure are driving the economy.
China outook: key technologies and expanding demand
China is focussing on key strategic technologies and expanding domestic demand. The global trend is clear: there is sufficient liquidity to stimulate the economy and promote long-term investment. The outlook for 2025? Consistently positive so far.
EU Safeguard: Is the steel lobby calling on the Commission to break own regulations?
According to media reports, the association of European steel producers EUROFER has called for an increase in Safeguard tariffs from the current 25% to between 32% and 41% and a general reduction in import quotas in the current review procedure for the EU Safeguard measure on certain steel products.
Demands in blatant contradiction to Safeguard rules
These demands clearly contradict the Agreement on Safeguards (Article 7 Duration and Review of Safeguard Measures) of the World Trade Organisation (WTO) and the EU Safeguard Regulation (2015/478 – Article 19).
WTO Agreement on Safeguards – Article 7
4 … A measure extended under paragraph 2 shall not be more restrictive than it was at the end of the initial period, and should continue to be liberalised.
Source: wto.org
EU Safeguard Regulation – Article 19
3 A measure so extended shall not be more restrictive than it was at the end of the initial period.
4 If the duration of the measure exceeds 1 year, the measure must be progressively liberalised at regular intervals during the period of application, including the period of extension.
Source: europa.eu
The demands of the EU steel lobby could therefore not only violate applicable international agreements at the start of the safeguard review, but also existing EU regulations – on the basis of which the safeguard review was initiated in the first place. Such a demand could even be understood as incitement to a breach of the law, which is a punishable offence in Germany (StGB § 111 Public incitement to commit criminal offences).
EESC: CBAM changes called for once again
In its Opinion: The Clean Transition Dialogues – stocktaking – A strong European industry for a sustainable Europe, officially published today, the European Economic and Social Committee (EESC), a subsidiary body of the European Union, once again clearly pointed out the weaknesses in the European Carbon Border Tax CBAM and called for solutions, including for the immense costs incurred by companies, farmers and society as a whole as a result of the introduction of the CBAM measure.
SME must be the focus of future political decisions
We very much welcome the fact that the EESC has taken this point on board and recognised the damage CBAM could cause to the European Union both economically and socially if the Carbon Border Tax comes into full force on 1 January 2026 as planned. However, it remains particularly important that no exclusive solutions are created exclusively for large corporations, but that small and medium-sized enterprises in Europe must be the focus of future political decisions!
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Disclaimer: Many things here represent our opinion. Others are information from the Internet. We can therefore never claim to be correct or complete. And never base a business decision solely on the news you receive from us.
