European Commission President Ursula Von der Leyen announced that she will present an action plan on March 19 to support the steel sector in the EU block.

The president said the EU manufacturers are at a crossroads facing critical challenges, including the threat of US tariffs. The plan to be announced on March 19 includes measures to make "clean" steel production commercially viable and how to respond to "unfair trade practices.", according to Von der Leyen.

Currently, the steel sector employs around 300,000 people in the European Union, but she claimed that around 100,000 jobs have been lost during the last 15 years.