ThyssenKrupp's Steel Crisis: EU's Response & Future of Industry

ThyssenKrupps Steel Production Cuts: A Critical Juncture for European Heavy IndustryGerman industrial giant ThyssenKrupp announces significant steel production cuts, leading to job losses and outsourcing. The company faces challenges from cheap Asian imports, high energy costs, and US tariffs. The European Union, too, grapples with one-third of its steel consumption coming from outside the bloc. Germany invests nearly seven billion euros in green steel technologies, while the EU proposes stricter import tariffs and energy regulations. ThyssenKrupp explores strategic options, including a potential sale to Indias Jindal Group. This situation marks a critical period for European heavy industry, shaping the future of steel production for decades.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.