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Home Market Research Economy

Poland Asks Ukraine Not To Decimate Its Steel Industry

by TheAdviserMagazine
10 months ago
in Economy
Reading Time: 2 mins read
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Poland Asks Ukraine Not To Decimate Its Steel Industry
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European Union members must sacrifice their own economies for Ukraine. The unelected bureaucrats in Brussels repeatedly side with Ukraine on every trade dispute because their agenda is for an elite few to prosper rather than whole of Europe. Slovakia and Hungary pleaded for Ukraine not to decimate their energy sector—Brussels overruled their wishes. Farmers throughout the EU pleaded for Ukraine not to override their goods with duty-free imports—Brussels overruled their wishes. The examples are endless, but the outcome is always the same.

Poland is the latest nation to plead for Ukraine not to override an entire sector as tariff-free Ukrainian steel floods the EU. Ukrainian steel imports to Poland rose 27% in the first six months of the year, according to Polish steelmakers’ lobby group HIPH.

“We have a huge increase in imports of Ukrainian steel that is deeply pressuring our steel industry,” Deputy Development and Technology Minister Michal Baranowski told the outlet. “So we are working with the European Commission to find a way to address it, preferably in the short term.”

The European Commission proposed limited tariff-free imports from all trading partners, careful not to single out Ukraine, with a plan that would impose a 50% duty on imports that exceed a specific quota. Polish steelworkers believe the move would be insufficient. Poland’s steel industry faces much harsher regulations due to its EU alliance. Polish mills simply cannot compete against a seller who can undercut them at every turn, beginning with production.

Krystian Gunia, chief financial officer at steel producer Cognor Holding, spoke with parliament in Warsaw, where she stressed the need for immediate protection. The steelmaker is close to halting production at its new 800 million zloty ($217 million USD) rolling mill.

One of the main regulations hurting Poland is the EU Emissions Trading System (ETS) that demands companies comply with green environmental standards. The EU has partnered with the Global Agreement for Sustainable Steel and Aluminum (GASSA) to ensure nations abide by net-zero regulations since climate change is the ultimate tool in the globalist arsenal. The carbon emissions from Ukraine are deemed acceptable by these agencies, which are reluctant to impose regulations on the country.

Poland will lose this battle because the unelected bureaucrats in Brussels have no incentive to see an actual EU member state surpass Ukraine. Every nation must send endless aid to Ukraine without question and willingly watch as Ukraine tramples on every sector of its economy.



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