PARIS — French industry minister Marc Ferracci emphasized the need for greater protection of Europe's struggling steel sector from inexpensive imports during a meeting with counterparts from seven EU countries in Paris. He highlighted the challenges faced by European steel producers due to weak demand and an influx of low-cost imports from Asia, particularly from China.

Acknowledging the grave situation in the European steel industry, Ferracci stressed the necessity of strengthening safeguard measures in the short term to prevent plant closures. The European Commission is considering adjustments to the current quota system for steel imports amid the threat of new tariffs imposed by U.S. President Donald Trump.

The joint statement issued by the ministers outlined the need to align quotas with actual demand in the short term and proposed extending safeguards pending further investigation or the establishment of a new mechanism. The statement, supported by several EU countries, underlined the importance of adapting tariff and quota levels to address overcapacity concerns and meet European demand.