BRUSSELS (AP) — Europe’s main steel federation says President Donald Trump’s reasons for slapping tariffs on steel and aluminum are absurd and that the move could cost tens of thousands of jobs across the continent.
EUROFER chief Axel Eggert said Friday that “the national security justification the president has used – and the linking of these tariffs to NATO funding – is an absurdity.”
The European Union exported about 5.5 million tons of steel to the U.S. last year. European steel producers are concerned about a loss of market access but also that steel from elsewhere will flood in.
Eggert said “the loss of exports to the U.S., combined with an expected massive import surge in the EU could cost tens of thousands of jobs in the EU steel industry and related sectors.”