Member Article
Simon Bailes Peugeot is urging Business Secretary Kwasi Kwarteng to apply whatever pressure he can to ease restrictions on steel imports.
The appeal follows the European Commission’s decision to extend restrictions on steel imports into the EU by three years.
Simon Bailes says such a stance will negatively impact the automobile sector, which is already hampered by supply shortages.
He supports the stance taken by the European Automobile Manufacturers ’Association (ACEA), which says the continuation of such measures ignores the needs of end steel users, such as car manufacturers.
The decision to extend current import restrictions comes at a time when European automakers already face acute shortages in both steel and microchips – resulting in a slowdown in manufacturing which require constant management of orders to avoid assembly line stoppages.
European car manufacturers source more than 90% of all their steel in…
