Stock Markets June 3, 2026 06:06 PM

EU Steel Shipments to U.S. Drop Sharply After Washington Doubled Tariffs - Eurofer

Association warns tariff spikes and higher duties on derivative goods have cut EU exports and urges full implementation of Turnberry trade deal

By Leila Farooq

EU steel exports to the United States have declined by 34% since Washington raised steel and aluminium duties to 50%, Eurofer said, with higher levies on derivative products such as washing machines and motorbikes also weighing on European demand. The industry body urged both sides to implement last July's trade agreement in full and to work on quota and overcapacity measures.

EU Steel Shipments to U.S. Drop Sharply After Washington Doubled Tariffs - Eurofer

Key Points

  • EU steel exports to the U.S. dropped by 34% after U.S. tariffs were raised to 50% - impacts the steel production sector and transatlantic trade flows.
  • Shipments amounted to 1.94 million metric tons in the three quarters after the tariff increase; annual exports were 3.4 million tons in 2025 versus 4.1 million in 2024 and 4.7 million in 2017 - relevant to steelmakers and commodity markets.
  • Higher duties on derivative products such as washing machines, motorbikes, fridges, lawn mowers and rail parts have reduced demand for European metal content - affecting appliance, automotive and rail supply chains.

EU steel exports to the United States have fallen markedly since Washington increased tariffs on steel and aluminium to 50%, industry association Eurofer said on Thursday, estimating a 34% decline. The group also pointed to higher duties on derivative goods - items containing metal content such as washing machines and motorbikes - as a further drag on demand for European output.

Eurofer reported that, in the three quarters following the U.S. decision to double import tariffs from 25% to 50%, shipments to the U.S. totalled 1.94 million metric tons. By contrast, EU producers exported 3.4 million tons to the United States in 2025, compared with 4.1 million tons in 2024 and 4.7 million tons in 2017, according to the association.

The group underlined the importance of carrying through the bilateral trade agreement struck last July. That deal, agreed at the Turnberry golf course in Scotland, envisages the European Union removing most of its duties on U.S. goods imports in exchange for a broad 15% U.S. tariff on EU exports. The agreement also set out that the two sides should explore the possibility of tariff-free steel and aluminium quotas and cooperate on tackling global overcapacity.

Axel Eggert, Eurofer's director general, said the United States needs to honour its commitment to collaborate with the EU to find a workable solution. Eurofer highlighted another complication for EU producers - U.S. tariff measures on so-called 'derivative' products, where the metal content was initially subject to the 50% duty. The administration widened the list of products covered roughly a month after the Turnberry agreement, adding more items to the higher-duty category.

Since then, the administration has reduced a number of tariff rates. A recent proclamation on Monday cut the rate on some products to 15% for the EU. Nonetheless, certain goods - including fridges, lawn mowers and rail parts - remain subject to a 25% rate. Eurofer noted that the EU could suspend certain concessions if these duties do not fall to 15% by the end of the year.

The association's figures and appeals draw attention to the immediate trade effects of tariff shifts and the ongoing negotiations intended to stabilise transatlantic metal flows.

Risks

  • If U.S. duties on derivative products do not fall to 15% by year-end, the EU could suspend concessions under the Turnberry agreement - risk to broader EU-U.S. tariff concessions and export volumes, affecting manufacturers and exporters.
  • Continued or expanded U.S. tariffs on steel and aluminium derivatives may sustain lower demand for EU-produced metal content, pressuring steel producers and downstream sectors like appliances and transport equipment.
  • The expansion of the list of derivative products initially subject to the 50% tariff introduced further uncertainty for exporters and supply chains reliant on cross-border metal inputs.

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