The Spanish steel Association Unesco expressed deep concern over the recent decision by the U.
S. government to double tariffs on imports of most types of steel, increasing them from 25% to 50% from this Wednesday. The organization claims that this step is a sharp escalation of trade protectionism and a violation of the principles of cooperation between strategic partners, Kallanish notes[b].[/b].
"We are deeply surprised and consider this decision unexpected and disturbing. The increase in tariffs on European steel to 50% effectively closes the US market for European steel products," comments Unesco CEO Carola Hermoso. The Association notes that although the previous tariff of 25% created problems, it still partially covered the costs of customers. However, the new rate led to the cancellation of current orders and the introduction of increased tariffs on goods already in transit."The economic impact is huge and could amount to billions of euros in losses for the European steel industry," Hermoso warns.
In addition to Europe, Unesco notes that this measure is already having a negative impact on the US market itself."Prices are rising, investments are being suspended, and all signs indicate that the country is entering a period of severe inflation. This decision is not only unfair, but also harmful to both economies[US and Europe]. We need responsibility, long-term thinking and cooperation," Hermoso notes.
The United States currently imports 27 million tons of steel per year, accounting for 28% of its consumption."Raising tariffs to this level not only endangers our exports, but also causes an alarming side effect, such as the reorientation of global trade flows to the European market," said the CEO. Unesco is concerned that Europe may be flooded with low-quality steel from third countries that no longer have access to the US market.
In 2024, Spain exported 250,000 tons of steel to the United States worth more than 400 million euros ($456.9 million).
The Association considers the loss of competitiveness of European steel as a structural problem requiring urgent attention. Over the past two decades, the EU's share of global steel production has plummeted from 21% to 6.5%, although steel consumption in Europe has remained stable.
This decrease is explained by a significant loss of competitiveness compared to countries whose products do not meet environmental, labor and other requirements. safety standards required in Europe. According to Unesco, without swift action, Europe risks permanently losing a strategic industry that is vital for economic stability, the transition to a green economy, and the continent's industrial autonomy.
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