Switzerland’s government has approved state aid to support the struggling steel sector. This decision marks a significant shift from the country’s traditional hands-off approach to business. The aid package includes measures to reduce electricity costs for steel companies, aiming to help them remain competitive in the global market.
This move comes in response to the challenges faced by the industry, including high energy prices and competition from cheaper imports. The aid is expected to provide the necessary support for the steel sector to stabilize and adapt to current market conditions.