U.S. Steel Tariffs Impact Europe

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cost steel imports

CNBC

•

World

Trump's 50% steel tariff could see prices tank in Europe — and soar in the U.S.

Summary

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74% Informative

U.S. President Donald Trump announced on Friday that he will hike tariffs on steel imports from 25% to 50% on Wednesday .

Steel prices are set to climb further as a result of the higher tariff rate expected to come into effect this week .

But some buyers and some manufacturers could benefit from lower prices in Europe , analysts say.

"These tariffs are at such a high level and in the U.S. they will affect a massive community of manufacturers which make a huge contribution to GDP and employment, so there will be lobbying on this." — CNBC 's Ganesh Rao contributed to this story..

VR Score

Informative language

Neutral language

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formal

Language

English

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not offensive

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not hateful