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According to foreign media reports, the European Automobile Manufacturers' Association (ACEA) said on Wednesday that the European Commission's plan to protect member states' steel industries by cutting steel import quotas and raising tariffs on imports exceeding those quotas to 50% would trigger inflation across Europe, A709 Grade 50 steel plate.
The European Automobile Manufacturers Association stated in a press release: A709 Grade 50 steel plate, "Approximately 90% of the steel purchased by car manufacturers comes from within the EU, so our biggest concern is the inflationary effect of this measure – it will drive up steel prices in the European market."
The association emphasized that modifying the key parameters of the safeguard measures—particularly "significantly reducing import quotas" and "doubling the out-of-quota tariff to 50%"—will significantly reduce the possibility of alleviating the tight supply situation in the European steel market through imports.
Furthermore, the European Automobile Manufacturers Association also pointed out that the new "melting and casting" rules of origin will further restrict imports and create a "huge administrative burden" for European manufacturers using imported steel.
The European Automobile Manufacturers' Association (ACEA) is urging the European Commission to consider the specific circumstances of industries that require the import of certain types of steel, such as the automotive industry: "Import quotas for automotive steel have consistently been exhausted quickly during the past seven years of the safeguard period. A709 Grade 50 steel plate, The Commission needs to understand the complexities of applying 'melting and casting' rules of origin in deeply globalized supply chains, as exemplified by the automotive industry."
