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Germany will press for quick action by global steel forum to reduce overcapacity

Altmaier said the European Union was currently discussing setting steel import quotas to prevent a flood of steel.


Reuters 13 Jun 2018, 05:50 PM Germany
  • Altmaier said there was also a possibility that US companies would apply for exemptions for their irreplaceable steel suppliers. (Image Credit: Pixabay)

Germany will press for quick action by a global steel forum to reduce overcapacities in the world market, German Economy Minister Peter Altmaier said on Wednesday, ahead of a June 20 meeting by the Global Forum on Excess Steel Capacity in Paris.

Altmaier said the European Union was currently discussing setting steel import quotas to prevent a flood of steel on the German and European markets as a result of the US decision to impose tariffs on steel and aluminum imports.

He said there was also a possibility that US companies would apply for exemptions for their irreplaceable steel suppliers in Europe.  

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