EUROMETAL PRAGUE 2019: Economic slowdown in Germany would injure central Europe steel market

If the United States places import tariffs on cars produced in Germany it could trigger an economic slowdown in Germany, corporate audit director of Czech steel distributor Ferona, Jan Moravec, said at Eurometal’s Regional Meeting in Central Europe held in Prague on April 25.

One of the major risks to the German steel industry is the import tariffs in the United States, Moravec said.
Tariffs on imported steel in the US have not had a major direct impact on the European steel market so far because the volume of European steel hit by the tariffs does not represent a significant portion of the European industry, Moravec said.
“Total steel exports to the US from Europe was 6 million tonnes in 2017, compared with consumption of about 150 million tonnes of steel in Europe in 2017,” Moravec said.

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Published

Maria Tanatar

April 26, 2019

15:55 GMT

Prague