EU Steel Exports to US Drop 34%, Eurofer Calls for Implementation of Trade Agreement
0xBroomberg
Three quarters after the US doubled steel tariffs to 50%, EU steel exports to America fell to 1.94 million tonnes — down 34% year-on-year; Eurofer warns the EU may suspend concessions if derivative tariffs are not cut to 15% by year-end.
How far have exports fallen?
In the three quarters since the US raised steel tariffs from 25% to 50%, EU steel exports to America dropped to 1.94 million tonnes — a 34% year-on-year decline.
The longer trend is clear: 2017 4.7 mt → 2024 4.1 mt → 2025 3.4 mt → now 1.94 mt.
This means → exports did not fall off a cliff overnight; each tariff hike knocked them down another step, and the doubling sharply accelerated the slide.
What did last year's deal actually promise?
In July last year the two sides signed a trade deal at Turnberry, Scotland, built on three pillars: the EU drops tariffs on most US goods, the US applies a flat 15% tariff on EU exports, and both sides negotiate steel-and-aluminium duty-free quotas plus measures against global overcapacity.
Eurofer Director General Axel Eggert was blunt: the US needs to deliver on its commitments.
In plain terms = the deal was signed, but the steel-specific terms have not been fully implemented — there is still a wide gap between the framework on paper and what has actually happened.
Why are "derivative tariffs" an extra wild card?
Derivative tariffs — levies on finished products containing metal, such as washing machines and motorcycles — were initially set at 50%.
Trump expanded their scope one month after the Turnberry deal was signed. This means → the ink was barely dry before new tariffs were added.
On Monday the US announced a cut on some derivative tariffs to 15%, but refrigerators, lawn mowers, and railway parts remain at 25%.
What is the next critical checkpoint?
Eurofer has stated explicitly: if those products still at 25% are not brought down to 15% by year-end, the EU may suspend some of its trade concessions.
This reflects the EU using "reversible concessions" as leverage to force the US into full implementation.
In plain terms = whether the deal is fully delivered will be tested by year-end — that is the make-or-break moment for Europe's steel industry to stabilise.
Content is for reference only, not financial advice.