EU and US on the brink of a customs war?

US plans to cut steel and aluminum imports are causing concern among European companies. Industrial organizations warn of an intensification of the customs war - if the Americans introduce tariffs, European companies will demand an adequate response from the EU authorities.

The US administration is considering the introduction of duties on steel and aluminum, including from the European Union. Therefore, Eurofer and European Aluminum are announcing an application for the introduction of appropriate customs duties in the EU.

Last year, total US steel imports were 36 million tonnes. Imports from the European Union amounted to 4.935 million tons. Germany, which exported 1.322 million tons of steel to the United States, may lose the most at customs.

“The EU has an arsenal of remedies and protects its interests. In response to an economic threat, they can be ready for launch within a very short period of time and the EU industry will demand their immediate application, ”says Axel Eggert, CEO of the European Association Steel Eurofer.

According to the European Steel Association Eurofer, Brazil, South Korea, Russia, Turkey, India, Vietnam, China, Thailand, South Africa, Egypt, Malaysia and Costa Rica are countries that will pay customs duties if they exceed last year's 63 percent level. shipment to this market. Other countries will pay after exceeding 100% of 2017 imports.