1Settimana·

💥 Trump doubles steel tariffs to 50% - Germany and EU affected! 🇺🇸🔩

It doesn't stop...

Donald Trump has announced that he will increase import tariffs on steel and aluminum from 25% to 50%. This measure will come into force on June 4, 2025 and will also affect imports from Germany and the EU.

🔍 Background:

Trump justified the tariff increase with the protection of national security and the strengthening of the US steel industry.
In a speech at US Steel in Pennsylvania, he emphasized that tariffs are his "absolute favorite word".
The measure affects imports from countries such as Canada, Brazil, Mexico, South Korea and Germany.

📈 Effects:

Importing steel products into the US is likely to become more difficult with the doubling of tariffs.
Prices for steel in the USA could rise in the medium term, which could have an impact on the construction and automotive sectors.
Germany, the leading steel producer within the EU, exported around one million tons of steel to the US in 2023.

🌍 International reactions:

Canada's Chamber of Commerce criticized the tariff increase as costly for both countries.
Australia described the move as "unjustified and not the act of a friend".

Proposal for his tombstone:

🪦 Here rests Donald J. Trump

"Tariffs were my favorite word - now I'm paying the last tax." 💸🇺🇸

$TKA (-1,45%)
$SZG (-2,49%)
$MT (-0,75%)
$OUT1V (-0,4%)
$SSAB A (-2,01%)

Source: https://www.br.de/nachrichten/deutschland-welt/trump-will-stahl-zoelle-auf-50-prozent-verdoppeln,UmiOkwN

www.br.deTrump will Zölle auf Stahl-Importe verdoppeln - auf 50 Prozent

15 Commenti

Ayla_ver@Ayla_ver

1Settimana

I always thought I was erratic ....but then Trump came along and showed me how you can change your mind three times in one tweet

•

Basti92@BavarianLion

1Settimana

Very good, Monday then price drop exactly when the savings plans are executed 👍😜

•

Yüksel T.@yuekseltoprak

1Settimana

Nobody believes him anymore

•

Soprano@Soprano

1Settimana

As if we produce steel and aluminum on a large scale in the EU, who cares? Germany got out of metallurgy years ago, we don't even have enough steel for our oh-so-great tanks, so we are certainly not dependent on exporting steel

•

Enrique@Dividenden_Monteur

1Settimana

@Soprano In fact, we are the market leader in special steel in Europe... 1 million tons of which go to the USA every year

•

Soprano@Soprano

1Settimana

@Dividenden_Monteur From what I've read, the Swedes with SSAB are the only Europeans still producing armor steel in sufficient capacity since Thyssen Krupp closed down their departments for it?

I don't know what the journalists mean by special steel, but it's obviously not enough to get certification for the armaments industry.

••

Soprano@Soprano

@Dividenden_Monteur But also to put this into perspective. Steel exports from Germany to the USA amount to just under 3 billion US dollars out of a total export volume of 175 billion US dollars.

We are talking here about a 1.7% share of exports

••

Enrique@Dividenden_Monteur

@Soprano No, I meant industrial special steel, e.g. V4A stainless steel specified for the food industry.
Stahlo and Kloeckner are at the forefront in this field

The Americans would never buy armored steel or similar from us in large quantities, because then we would know what is in the armor. That's where the friendship ends for them, I always see that myself when I work with Lockheed.

•

Soprano@Soprano

@Dividenden_Monteur It's always very interesting and insightful to learn something from you. You simply have your ears very close to the pulse of industry and companies. Professionally, I always tend to look at politics and economics from very high up on the macro level.

But the bottom line is that you would agree with me that steel exports are no longer all that important for Germany. The newspapers are blowing it out of proportion - it's no longer 1900. 0.25% of employees now work in the steel industry. Pharmaceuticals, mechanical engineering, automotive, chemicals and electronics are all at least 10 times larger in terms of exports.

•

Enrique@Dividenden_Monteur

@Soprano Yes, of course I agree with you.
The days when "field, forest and meadow steel" came from the Ruhr area are of course long gone.
There has also been a slight rethink in the meantime, especially from a supply chain perspective.

There are still some little gems here.
At the moment I'm looking at the aforementioned Kloeckner, as the Friedhelm Loh empire is putting out feelers.
And for me, this guy is one of the last real businessmen in Germany alongside Würth and Kühne

•

Soprano@Soprano

@Dividenden_Monteur Interesting question at this point: What makes a real businessman for you? Würth is unfortunately a real unsympathetic character. Actually, there should still be one or two old-school businessmen in Germany. Theo Müller? Dieter Schwarz? You have to like him, but I always enjoy listening to what Wolfgang Grupp has to say. Sure, he's a bit of a showman, but what he says often has substance, especially when it comes to dealing with employees.

••

Enrique@Dividenden_Monteur

@Soprano haven't forgotten you, reply tomorrow at your leisure.

Because of the thunderstorms, the fire department beeper has been going off every minute since gestern😵‍💫

•

Soprano@Soprano

@Dividenden_Monteur My brother is also in the volunteer fire department ;)

•

Enrique@Dividenden_Monteur

1Settimana

@TotallyLost these confirmed again.
Long in EUR/USD on Friday and 5 hours after the market closes the next inch🤣

•

Donald Sack@DonaldSackfalte

1Settimana

Another inch, great

••