Published by Global Banking & Finance Review®
Posted on June 4, 2025
1 min readLast updated: January 23, 2026
Thyssenkrupp Steel Europe reports limited direct impact from US tariffs but warns of increased pressure on transatlantic trade relations.
DUESSELDORF (Reuters) -U.S. tariffs on steel have only a limited direct effect on Thyssenkrupp Steel Europe, the company said on Wednesday, but the increase in import duties brings with it pressure on trade relations more broadly, it warned.
"The company's main sales market is in Europe and exports of steel products to the U.S. are low in volume," the company said in an emailed statement to Reuters.
"Nevertheless, the further increase in tariffs represents an enormous burden for transatlantic trade. Increased diversion effects would further increase import pressure on Europe," it said, after the U.S. doubled tariff rates on most imported steel and aluminium on Wednesday.
(Reporting by Tom Kaeckenhoff, Editing by Rachel More, Editing by Madeline Chambers)
The company stated that U.S. tariffs on steel have only a limited direct effect on its operations, as its main sales market is in Europe and exports to the U.S. are low in volume.
Thyssenkrupp noted that the increase in tariffs represents an enormous burden for transatlantic trade, potentially increasing import pressure on Europe.
The company's main sales market is in Europe, where it primarily focuses its operations.
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