Trump threatens tariffs: Styrian industry in great concern!

Trump threatens tariffs: Styrian industry in great concern!

Steiermark, Österreich - The announcements by US President Donald Trump, to introduce tariffs on steel and aluminum, trigger great concern in Europe. The industry is particularly alerted in Styria and all over Austria. Christoph Robinson, Managing Director of the Styria Association, emphasizes that clarifying information on the exact details of the planned tariffs is initially required in order to correctly assess the possible effects. For many Styrian companies, the prophecies would be 25 percent tariffs a significant challenge because they rely on specialized products. Robinson emphasizes that open markets are of the utmost importance for export -oriented Styria and warns of the negative long -term consequences of industrial properties, as they could represent the new tariffs, reported Orf .

reactions in the EU and Germany

The fear of a trade war is omnipresent, and both the EU and the German government are concerned about the effects. Luis de Guindos, Vice President of the European Central Bank, calls for more caution and warns against taking rash actions, while the German government actively holds discussions with business associations and other actors. Minister of Economic Affairs Robert Habeck emphasizes that there will be no automatism for counter -sanctions. However, the possibility of the EU reactions remains in the room, especially if the tariffs should actually come into force, which the EU could also cause countermeasures to protect its companies and citizens, such as Kleine Zeitung reported.

Significant price pressure could result from the redirection of steel from Asia to the EU, the threat of punitive tariffs could significantly influence the structure of the trade. Traditional steel delivery countries are restricted in their sales ability, while fear that the US market, which has previously rely on imports, could come under pressure again. The exports of steel from the EU to the United States have already decreased drastically, which is evident in the declining trading numbers. As soon as clarity exists, the EU will have to take appropriate measures to protect the advantages of the open market. It will be crucial to appear with a uniform voice, as the participants unanimously confirm the discussion about the new customs policy.