EU Steel Exports To US Plummet By 1 Million Tonnes

Since 12 March, the United States on all imports of steel and aluminium 25% tariff policy came into force, the EU steel industry suffered a huge blow. At the same time, the United States domestic consumers also had to pay for this policy. Director General of the European Union of the steel industry, Axel Eggert said, steel exports to the United States decreased by 1 million tonnes, a loss of about 2 billion euros. This policy will also have a huge impact on the U.S. steel users. The US steel industry is currently unable to produce a large number of different grades and relies on steel imports from the EU. If U.S. steel users are unable to source these products from the U.S. domestic market, their purchasing costs will increase by 25 per cent.