Paolo Rocca, head of Techint and global CEO of Tenaris, has been warning about changes in the steel industry since late last year. During several public presentations, Rocca has addressed the situation regarding tariffs imposed by the United States on imports of steel products, highlighting the importance of strengthening the domestic industry in the U.S. market, where Tenaris has a strong presence.
At a recent event in Houston, Rocca mentioned the U.S. Government's strategy of using tariffs to counteract Chinese hegemony in the energy transition and reduce its industrial deficit. He also spoke about the need to understand Trump's tariff policies and how they impact the reindustrialization of the country.
Rocca emphasized the importance of gas competitiveness in the current market and the role of renewable energies in electricity supply. Additionally, he pointed out that Tenaris is one of the companies with the lowest carbon footprint, reflecting its commitment to environmental sustainability.
Regarding geopolitical and commercial implications, Rocca mentioned changes in NAFTA and how this affects trade relations between countries, especially in sectors like oil and gas extraction. He stressed that companies must adapt to these changes, repositioning themselves in supply chains to maintain competitiveness.
In a global context, Rocca also quipped about the instability caused by the growing Chinese dominance in key sectors like renewable energies and electric vehicle production, as well as its role in the global steel industry. He anticipated that the Vaca Muerta shale will compete with the U.S. Permian, highlighting Argentina's potential in oil production.
In a conciliatory tone, Rocca mentioned the need to adopt a pragmatic and economically viable energy transition that fosters a low-carbon model without being a burden on society. He highlighted the importance of investment in renewable energies and the pursuit of economic competitiveness without relying on subsidies. Additionally, he expressed his desire for the United States to lead an alliance of countries to counter Chinese influence in the global industry.
In summary, Paolo Rocca's statements reflect his vision of the challenges and opportunities facing the steel and energy industries in a context of significant geopolitical and commercial changes, highlighting the importance of adaptation, sustainability, and competitiveness in a constantly evolving market.
