US President Trump Announces Tariffs on All Aluminium And Steel Imports

| Editor: Janina Seit

Gerd Götz, Director General of European Aluminium commented on Trump's declaration to impose penalties of 25 % on steel and 10 % on aluminium imports. These punitive tariffs are part of Trump's "America First" strategy and should apply from next week on and last for a long time.

Trump declares penalties on aluminium and steel imports.
Trump declares penalties on aluminium and steel imports.
( Source: Pixabay / CC0 )

These unprecedented measures threaten to destabilize global trade flows. As a result of the tariff a disruption of the current trading relationship between the United States and Europe are possible, which have strongly interlinked value chains and a significant number of multinationals operating in both territories. It can be also expected that the measures will likely result in a redirection of aluminium products from third countries to Europe. Decisive actions must be taken to neutralise effects on European companies.

European Aluminium calls on the European Commission and EU Member States to protect the aluminium industry following the announcement by US President Trump that a tariff of 10 % will be imposed on all aluminium exports from all countries.

Gerd Götz, Director General of European Aluminium commented on Trump's statement:

gerd Götz, Director General of European Aluminium
gerd Götz, Director General of European Aluminium
( Source: European Aluminium )

“We regret President Trump’s decision to impose a tariff on all aluminium imports independent of their country of origin. European aluminium exports to the US, in view of both their quantity and characteristics, do not pose any threat to US national security. Most importantly, this blanket tariff does not address the root cause of the main challenges faced by the aluminium industry today: the unsustainable and steady increase of aluminium overcapacities in China. This global challenge can only be managed effectively through a global and long-term solution based on multilateral rules and common enforcement such as the creation of a Global Aluminium Forum within G20.

The European value chain is already under enormous pressure due to global overcapacities, the announced measures put thousands of jobs in over 600 plants, many of which are SME’s, in countries such as Germany, Italy, France, Spain, Sweden and Central and East European countries at risk. We urge the European Commission and EU Member States to implement without further delay actions to protect our industrial interests, in line with international trade rules”.

This article is protected by copyright. You want to use it for your own purpose? Infos can be found under (ID: 45169598)

You might also be interested in CLOSE OPEN
The VDMA expects the economy to weaken: "Economic momentum is slowing down, both in Germany and abroad. The politically provoked risks on important sales markets are having an impact without solutions in sight," says VDMA President Carl Martin Welcker (l.).  (In the picture: Carl Martin Welcker and VDMA Managing Director Thilo Brodtmann.
VDMA at Hannover Messe 2019

Mechanical Engineering Industry Dampens Expectations

Companies that are already active in Hungary or are planning to establish themselves there should take additional investments in employee qualification into account in advance.
Industrial Developments in Hungary

German Investments in Hungary

The recycling industry’s value chain consists of collection systems, dismantling companies, metal dealers and scrap processors.
Aluminum Recycling

Markets for Steel and Aluminum Scrap

Udo Fast/VCG; gemeinfrei; GIFA; Pixabay; Daimler; European Aluminium; NürnbergMesse; Sander Druckguss; Godfrey&Wing; Norican Group; MPA Stuttgart; Mapal; Hackrod; Boston Consulting Group; Unsplash; NuernbergMesse / Frank Boxler; Bühler Group; Marposs