The Italian steel trade and distribution association (Assofermet) has expressed disappointment with the European Commission’s latest "Steel and Metals Action Plan." Despite the EU implementing various trade protection policies in recent years, global steel overcapacity has led to a 10% decline in EU domestic steel production over the past decade. 

Assofermet criticized the plan as incomplete, lacking measures to boost market steel demand or revitalize EU steel production. With rising energy costs, decisive action and execution are deemed essential to revive EU steel demand; otherwise, production may further decline, jeopardizing existing decarbonization goals. 

Additionally, Assofermet warns that the tariff war sparked by US trade protection policies is expected to severely impact EU steel and aluminum exports, while the EU's tightening trade defense measure will negatively affect Europe’s GDP.