The EU steel sector was on high alert on Wednesday following the implementation of 50% US tariffs on steel and aluminium, a move that might divert global steel imports formerly heading to the US towards the EU.
"With the doubling of US blanket tariffs on steel to 50% without exceptions, we expect massive deflection of the 27 million tonnes of steel previously destined for the US towards the European market,” director general of the European Steel Association (EUROFER) Axel Eggert warned in a statement.
