Wall St. Opens Lower on Fears of Escalating Trade War
- 6 years ago
Wall St. Opens Lower on Fears of Escalating Trade War
He vowed the bloc would not “sit idly while our industry is hit with unfair measures that put thousands of European jobs at risk.”
Canada accounted for the largest share of steel imports into the United States, about 16 percent in 2017, according
to the latest data from the United States Department of Commerce’s International Trade Administration.
In Europe, Germany accounted for about 4 percent of United States steel imports last year, followed by the Netherlands, with 2 percent;
and Italy, with 1.4 percent, according to United States data.
“The consequences for the E. U.
steel mills could range from lower margins to protective measures fueling steel inflation.”
Steel makers based outside the United States were generally trading lower on Friday after the trade announcement.
Jean-Claude Juncker, the president of the European Commission, said on Thursday night, shortly after the comments by Mr. Trump,
that the tariffs appear to represent “a blatant intervention” to protect the United States steel industry.
He vowed the bloc would not “sit idly while our industry is hit with unfair measures that put thousands of European jobs at risk.”
Canada accounted for the largest share of steel imports into the United States, about 16 percent in 2017, according
to the latest data from the United States Department of Commerce’s International Trade Administration.
In Europe, Germany accounted for about 4 percent of United States steel imports last year, followed by the Netherlands, with 2 percent;
and Italy, with 1.4 percent, according to United States data.
“The consequences for the E. U.
steel mills could range from lower margins to protective measures fueling steel inflation.”
Steel makers based outside the United States were generally trading lower on Friday after the trade announcement.
Jean-Claude Juncker, the president of the European Commission, said on Thursday night, shortly after the comments by Mr. Trump,
that the tariffs appear to represent “a blatant intervention” to protect the United States steel industry.