The European Union must defend himself from Chinese imports - Lakshmi Mittal

The General Director of Arselormital Mr. Lakshmi Mittal believes that the European Union should urgently take protectionist measures to protect against unfair competition from China. Mittal said that the attacks of politicians on the firm economy company should be aimed at the reasons that prompted the largest metallurgical company in the world to take appropriate measures. This is written by Bloomberg.

According to Lakshmi Mittal, the future of Europe depends on the industrial policy of Brussels in relation to the domestic market, which suffers from unscrupulous competition from China. The European Commission should take protectionist measures and stop the flood of the EU market with cheap steel from China.

"The European Union must increase the total tariffs for the import of metal products, or introduce additional duties for steel rental from countries with low environmental standards," he said.

In addition, he criticized the EU policy aimed at reducing government spending. According to Mittal, budgetary savings have extremely negatively affected the economy of the European Union countries and painfully hit its industry.