The European Steel Association (Eurofer) expects US tariffs on steel imports to negatively affect the EU steel industry, Eurofer President Henrik Adam said on Tuesday.
On Monday, US President Donald Trump signed an order enacting a 25% tariff on steel imports.
"The Executive Order signed by US President Donald Trump imposing a 25% blanket tariff on all steel imports is a radical escalation of the trade war launched under his first administration. It will further worsen the situation of the European steel industry, exacerbating an already dire market environment," Adam said.
The EU steel exports could drop by up to 3.7 million tonnes, as Washington is the second-largest export market for European producers, accounting for 16% of total EU steel exports in 2024, Adam said, adding that such losses cannot be offset by EU exports to other markets.
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