Thyssenkrupp: Impact of U.S. tariffs limited, but import pressure on Europe is rising

In an emailed statement to Reuters, the company said: “The company's main sales market is in Europe and exports of steel products to the U.S. are low in volume.”

Nevertheless, Thyssenkrupp cautioned that the recent move by the United States to double tariffs on steel and aluminum imports could lead to increased import pressure on the European market.

The statement added: “Nevertheless, the further increase in tariffs represents an enormous burden for transatlantic trade. Increased diversion effects would further increase import pressure on Europe.”