Overview
- Lawmakers approved the LFI-sponsored text 127–41 in the National Assembly, with all left-wing groups in favor, the government camp voting against, and the Rassemblement National abstaining after filing hundreds of amendments.
- Ministers labeled nationalisation a populist fix and pointed to an EU steel plan set for early December that would halve quota‑free imports and lift over‑quota duties to 50%, which Paris wants in force from 2026.
- ArcelorMittal’s management rejected the move, arguing a change of shareholder would not resolve structural issues affecting European steel producers.
- Backed by the CGT, hundreds of workers rallied in Paris as proponents framed the measure as necessary to protect roughly 15,000 direct jobs, counter an April social plan, and restart decarbonisation projects.
- The proposal covers only the group’s French activities and is valued at about €3 billion, and its passage in the Senate—dominated by right and center majorities—is viewed as unlikely.