BERLIN (Reuters) – Europe urgently needs to take further measures to offset the impact of import tariffs imposed by U.S. President Donald Trump, the chief executive of steelmaker ArcelorMittal told a German newspaper in an interview published on Wednesday.
The European Commission is currently reviewing its “safeguard” measures designed to limit incoming steel and prevent a surge of imports as a result of Washington’s 25% import tariffs, which have effectively closed the U.S. market.
“The EU has announced safeguard measures but they weren’t effective,” Chief Executive Lakshmi Mittal told Frankfurter Allgemeine Zeitung. “Further measures are urgently necessary given the import tariffs U.S. President Donald Trump has imposed on steel imports to the United States.”
Across Europe, the steel industry is struggling with cooling demand and growing supply, in part as steel tariffs deflect supplies from the United States, steelmakers say.
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