EU steelmakers criticize trade agreement with the US over 50% steel tariffs

The European steel industry is in crisis despite the previous trade agreement between the EU and the US. According to the WV Stahl association, 50% tariffs on steel imports to the US remain in place, continuing to harm European exports. WV Stahl CEO Kerstin Maria Rippel emphasizes that the situation remains catastrophic for the European steel industry.

Rippel stressed the need to create a steel alliance between the EU and the US to jointly combat global excess capacity in steel production. She also called on the European Commission to implement the provisions of the Steel Action Plan, in particular regarding the limitation of the import share in the EU market, in order to restore the workload of European enterprises.

This position is supported by the industry associations EUROFER and EUROMETAL, which issued a joint statement on July 28. They warned that without effective protection not only for steel but also for products containing it, there would be an increased risk of deindustrialization, job losses, and a weakening of Europe’s industrial base. According to them, the EU must act immediately to preserve its strategic autonomy and support the “green” transformation.

For its part, the US welcomed the new trade agreement. Steel Manufacturers Association (SMA) President Philip Bell thanked Donald Trump for maintaining 50% tariffs, calling them the “cornerstone” of the revival of American industry. According to him, such measures guarantee the security and economic growth of the US.

The agreement stipulates that the EU will invest $600 billion in the US economy by 2028 and purchase $750 billion worth of American energy. Despite the cancellation of the planned increase in tariffs to 30% from August 1, tariffs on European steel will remain high.

US officials, including AISI President Kevin Dempsey and Trade Representative Jamison Greer, emphasized the historic significance of the agreement. They called it a breakthrough that allows the US to maintain tariffs and open markets while keeping the interests of American workers at the center of trade policy.

Thus, the agreement, designed to reduce trade tensions, reveals a profound difference in approaches: the US sees tariffs as a tool for protecting national interests, while the EU demands real parity in market access.

Just a reminder, the EU and the US recently reached a new trade deal that should stabilize economic relations between the world’s two largest economies. The agreement provides for a fixed customs duty of 15% for most goods exported from the EU. It covers key industries – automotive, pharmaceuticals, microchip manufacturing – and is a “ceiling” without additional fees, which will ensure predictability for businesses on both sides of the Atlantic.