A doubling of U.
S. tariffs on steel imports would put enormous pressure on Europe's steel industry. This is stated in a statement by the German steel association WV Stahl.
According to Maria Rippel, executive Director of WV Stahl, this step marks a new level of escalation of the Transatlantic trade conflict.
According to her, on the one hand, these measures will place a greater burden on European direct exports to the US market. Even more problematic is the indirect impact, as traditional supplier countries risk losing access to the American market due to exorbitant tariffs and, as a result, reorient their steel to the EU market.
WV Stahl noted that it is very important that the European Commission finds a balance between tough trade protection and reasonable negotiations. In particular, an effective trade protection tool for the European steel industry is needed in a timely manner - intensive work is currently underway on this. On the other hand, negotiations on a bilateral steel agreement with the United States are important, and the industry association supports the efforts of the European Commission. German metallurgists also note the need for support from the federal government in Brussels.
On May 30, US President Donald Trump announced at the US Steel plant in Pennsylvania that he would set tariffs on steel imports to the United States at 50%, doubling the current rate to protect the country's metallurgists. Later on social media, he clarified that their increased tariff rate would take effect on June 4.
