IMPACT OF A TRADE WAR WITH THE EU

Imposing restrictions on steel imports would have severe consequences for the EU. The European Steel Association considers the U.S. a key market, accounting for most European steel exports outside the EU. Steel has long been a strategically important industry in the EU, one that has fostered innovation, sparked economic growth and employed a lot of people. A, increase in tariffs would mean fewer exports to the U.S. and a potential cut on production for European plants.