04
2025
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06
US tariff hikes put huge pressure on European steel industry
U.S. President Donald Trump said on May 30 that the U.S. will raise tariffs on imported steel and aluminum from the current 25% to 50% from early June. For the U.S. side of this decision, the German Iron and Steel Federation Chairman Rieper local time on June 1, issued a written statement that the U.S. side of this move to make the trans-Atlantic trade conflict escalated again, will give the European steel industry will bring great pressure.
German Iron and Steel Federation Chairman Rieper said in a statement, in recent years, the European steel industry has been in the doldrums, the U.S. move to impose tariffs on the one hand, will increase the burden of Germany's direct exports to the U.S. market. On the other hand, its indirect impact is more serious: the traditional steel suppliers due to high tariffs and the threat of losing access to the U.S. market, and turn to the EU market, which will further aggravate the internal pressure on the already small European
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2025-05-30
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