Trump’s tariffs have significantly reduced steel exports from the EU to the US – EUROFER

Since the US raised steel tariffs to 50%, exports of steel products from the EU to the US have fallen by a third. This is according to a report by the European Steel Association (EUROFER).

In the three quarters since these tariffs were introduced (4 June 2025), this figure has fallen by 34% year-on-year – to 1.94 million tonnes.

At the same time, the further extension of tariffs to derivative products continues to have a significant impact on European steel producers and wider value chains.

As noted by the industry association, last week EU governments approved legislation to implement the trade agreement between the parties. It includes safeguard provisions allowing the European Commission to suspend certain parts of the agreement if the United States continues to apply tariffs of more than 15% on steel and aluminium products until the end of this year.

The agreement also provides for discussions on possible solutions regarding products manufactured using steel and aluminium, including arrangements on tariff quotas and cooperation in addressing global overcapacity issues.

As EUROFER Director General Axel Eggert noted, a year on from the tariff hike, the consequences are clear – the duties are stifling European steel exports to the US. Furthermore, the issue of meaningful market access remains unresolved.

According to him, transatlantic cooperation is in the interests of both sides, but there is still a long way to go before balanced conditions for steel trade are restored.

“The US must now fulfil its commitment to cooperate with the EU to find a solution regarding steel, aluminium and steel-containing products that will protect both markets from excess capacity, whilst ensuring reliable supply chains between them, in particular through decisions on tariff quotas. Until such a solution is found, the agreement is of no value to the EU steel industry,” he concluded.

It should be recalled that in early June, Trump reduced tariffs on certain steel and aluminium products. In particular, foreign companies may, under certain conditions, qualify for a 10% rate.