Trump tariffs deals major blow to European steelmakers, Salzgitter CEO warns
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 02 2025
0mins
Source: Reuters
Impact of U.S. Tariffs on European Steel Industry: Salzgitter, Germany's second-largest steelmaker, warns that the U.S. plan to double steel import tariffs to 50% is severely affecting the European industry, particularly Germany, due to increased competition from cheaper Asian steel and high energy prices.
EU Response to Rising Steel Imports: In reaction to the tariff increase and concerns over Asian steel flooding the market, the EU has tightened steel import quotas by an additional 15% as part of its European Steel and Metals Action Plan.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
