Trump’s 25% tariff on all steel imports is a radical escalation of the trade war. This will fatally worsen the situation of the European steel industry, which is already in an extremely difficult situation, says the European Steel Manufacturers Association (EUROFER)

Even against the background of the previously existing benefits for the supply of European steel to the United States, their volume decreased by more than 1 million tons per year. The new tariff will result in the loss of 3.7 million tons of EU steel exports to the United States, which cannot be compensated by supplies to other countries.

In addition, developing countries, having lost the US market, will redirect their cheap steel to the EU. European producers suffering from high energy prices will not be able to compete with them.

The EU is facing deindustrialization. In 2024 alone, the EU steel industry had to cut 9 million tons of production capacity and announce more than 18,000 job cuts. Trump’s initiative will inevitably catastrophically worsen the situation

CRYSTAL OF GROWTH previously informed that the European Union has been assigned the role of the main payer in the US struggle for its global dominance in the world, and according to the French Le Point, Europe is the main loser in the new geopolitical reality.