European bodies recently criticized U.S. President Donald Trump’s order to introduce tariffs on all steel and aluminum imports entering the country. Meanwhile, experts at home and abroad continue to evaluate how the trade dispute will affect steel prices and aluminum prices.
The European Commission, the European Union’s executive arm, recently vowed that it would respond swiftly to Trump’s February 10 order to impose a 25% import tariff on steel and 10% on aluminum, regardless of the point of origin. If you’re worried about changing steel prices and aluminum prices as a result of tariffs, MetalMiner’s weekly newsletter covers weekly metal price updates with weekly market insights and macroeconomics news.
“Unjustified tariffs on the EU will not go unanswered—they will trigger firm and proportionate countermeasures,” EC President Ursula von der Leyen said in a February 11 statement.
“The EU will act to safeguard its economic interests. We will protect our workers, businesses and consumers,” von der Leyen added. The statement did not indicate what reciprocal actions the EC would undertake. The tariffs are due to take effect from March 12 and presently do not allow for exemptions on points of origin. Trump initially announced plans to introduce the tariffs on February 9 while on board Air Force One.
Aluminium market: The current situation of transactions and inventory game amid "Rising" voices
