The German Green Party leader, Felix Banaszak, has voiced his support for a proposal by the Social Democratic Party (SPD) to safeguard the steel industry through the implementation of “Buy European” regulations. He emphasized the importance of protecting the sector from unfair competition, stating that failure to establish Europe as a leader in green steel production would result in job losses and a loss of technological sovereignty.
Banaszak stressed that the initiative extends beyond climate protection, encompassing industrial strength, supply security and social stability. He advocated for the adoption of “Buy European” rules, alongside clear sustainability quotas and tariffs to counter dumping imports. While expressing support for the SPD’s proposal, Banaszak cautioned that the Green Party will closely scrutinize how the ideas translate into government action. He highlighted the need for European leadership in green markets, advancements in hydrogen infrastructure development and lower electricity prices to ensure climate-neutral steel production doesn’t become a disadvantage for domestic production.
The Left party echoed the concerns, emphasizing that any measures to protect the industry must also protect its workforce. Party leader Ines Schwerdtner argued that a financial shield designed to protect steel conglomerates must also benefit employees and in return, companies should offer job guarantees and commit to continued investment in the sustainable transformation of steel plants.
An SPD proposal, poised for approval by the party’s executive committee, outlines a robust trading protection mechanism, including “Buy European” regulations, specifically for the security and defense industries and the energy sector. The national government will also pursue the establishment of green steel leadership on a European level.
According to Vice Chancellor, Finance Minister and SPD leader Lars Klingbeil, the future belongs to climate-friendly European steel. He asserted that prioritizing steel produced within Europe, especially within significant infrastructure projects supported by a substantial investment program, is crucial for the nation’s future.