ThyssenKrupp is scaling back steel production in Duisburg and plans to cut or outsource 11,000 jobs, reflecting the broader crisis in Germany’s steel industry. Cheap steel imports from Asia, rising energy costs, and high US tariffs are putting pressure on EU producers, with one-third of steel used in the European Union now coming from outside the bloc.

Germany is investing nearly €7 billion ($8 billion) to restructure its domestic sector, including subsidies for green steel technologies such as ThyssenKrupp’s new direct reduction plant. The European Union is proposing stricter import tariffs and energy regulations to protect domestic industries. ThyssenKrupp is also in talks to sell its steel division, with India’s Jindal Group emerging as a potential buyer.

This video summary was created by AI from the original DW script. It was edited by a journalist before publication.