From March 12, to return to the United States, steel from the European Union, Argentina, Canada or Australia should be taxed up to 25 %. If it comes into force, this measure, announced on February 10 by the American president, Donald Trump, comes to sink a little more the European steel, already in crisis.
“Whatever happens, the customs barriers erected by Donald Trump against the flow of goods from Canada, Mexico and China, which represent almost 40 % of the United States imports, already upset the market. Canada alone provides 60 % of American aluminum imports ”Prevents Simon Lacoume, a sectoral analyst at the Economic Research Department at Coface.
For European steel industry, this is a double penalty. In 2024, according to Eurofer data, the Brussels lobby in the sector, the producers exported 3.7 million tonnes of steel to the United States, the second outlet for Europe, so many flows now at risk and which cannot be deported elsewhere in a context of global overcapacity. Worse, if the American market closes, 23 million tonnes of sheets or profiles from China or Canada will partially surge on Europe.
You have 59.53% of this article to read. The rest is reserved for subscribers.
