"It would mean spending billions of euros": Emmanuel Macron refuses to nationalize ArcelorMittal

Reindustrialization, or at least the maintenance of existing industry, was at the heart of the discussions between Emmanuel Macron and Sophie Binet during the broadcast on Tuesday evening, May 13, on TF1 . While the president of the Economic Affairs Committee of the National Assembly, Aurélie Trouvé (LFI), had tabled a bill earlier in the afternoon to nationalize ArcelorMittal's activities in France, the President of the Republic dismissed this option out of hand.

"I met ArcelorMittal yesterday, and I spoke to the President of the European Commission about the issue this morning ( Tuesday ), the President of the Republic explained to the Secretary General of the CGT. We have increased competition, particularly in the steel market, from Asia. Why? Because they don't respect our standards."

Regarding the State's intentions regarding the steelmaker, suspected of a silent withdrawal from France, by eliminating several hundred jobs , while it is reluctantly embarking on the path to decarbonization, his response was therefore unambiguous: "No, I am not going to nationalize ArcelorMittal. Because that would mean spending billions of euros. We are fighting for our industrial sites in Dunkirk and Fos."

Emmanuel Macron then delivered his analysis of the situation of European and French steel: "What is Arcelor's problem in Europe? The continent represents 40% of its market. The answer, therefore, is to have guarantees and to develop. Ten years ago, the most sophisticated steel needs in Europe were 85% covered by our steelmakers. Today, they have lost about ten points because we have allowed Chinese and Indian steel to enter."

"So what should we do?" journalist Gilles Bouleau asked him. "We must stop the unfair steel coming from Asia," the president replied. "And put in place safeguard clauses to protect the European market. The European Commission announced in February that we will push to impose a safeguard clause, i.e., a trigger threshold of 15% of imports (a level from which foreign steel would be overtaxed) .

Emmanuel Macron also returned to the carbon tax applied to steel: "We must also reinstate conditions on CO2 ( by taxing the carbon emitted for the production of steel, which means that the more the steel is produced with respect for the environment, the less it is taxed )."

So here is Emmanuel Macron's response to save European and French steel: no nationalization, then, but concrete protectionist measures, which would apply directly to European borders, similar to what was done a few months ago regarding Chinese electric vehicles.