Commenting on the issue, Kerstin Maria Rippel, Managing Director of the German Steel Federation (WV Stahl), pointed out that this step will create a new tension in transatlantic trade relations.
"President Trump's announcement to raise tariffs on US steel imports to 50% marks a new escalation in the transatlantic trade dispute. This decision, which will create an additional burden on an economy that is already going through a difficult period, will negatively affect our steel industry in many ways."
Pointing out that both the direct and indirect effects of the tariffs could have serious consequences for Europe, Rippel stated:
"First of all, this measure will make our direct exports to the US market more costly. But even more problematic is the indirect impact. Traditional supplier countries are at risk of being excluded from entering the US market due to high tariffs. As these countries look for new markets to direct their steel to, their preference for Europe will further increase import pressure. Today already every third ton is imported, and three to four million tons of this steel comes from Russia."
WV Stahl called on the European Union to strengthen trade protection measures. Rippel emphasized, "The EU Commission must strike a careful balance between tough trade protection measures and diplomatic negotiations. An effective protection mechanism for the European steel industry is urgently needed. We welcome the ongoing work in this area,".
Rippel also emphasized the importance of a bilateral steel agreement with the US, stressing that they support the EU Commission's efforts in this regard and expect clear support from the German government in Brussels.
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