trade war - Latest news GMK Center

The US president justified the decision by citing delays in the ratification of the trade agreement

On January 21, the European Parliament officially suspended the ratification process for the trade agreement with the United States

Trump threatened a number of European countries with tariffs of 10% from February 1 and an increase in June via Greenland

At the same time, the Ministry of Economy gives a pessimistic forecast for steel demand at the end of the 2025/2026 financial year

In the first nine months of the year, German car exports to the United States fell by almost 14% y/y

The company will switch to producing steel exclusively in EAFs a year earlier than planned

The country will introduce a new 25% tariff on steel derivatives in December

The European Union has called on US officials to implement the July agreement

In particular, the government offered unsecured loans worth $2.3 billion

Among other things, the European Union seeks cooperation in the field of steel and aluminum

Beijing, in turn, will make adjustments to its countermeasures in the trade war.

Local steel producers are disappointed with the government's decision