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Austria's voestalpine calls on EU for steel tariff countermeasures, talks with US

ReutersFeb 12, 2025 9:03 AM

- Austrian speciality steelmaker voestalpine VOES.VI on Wednesday called on the European Union for immediate countermeasures and negotiations with the U.S. regarding the recent steel tariffs.

The comment, seen in a media presentation published ahead of voestalpine's post-earnings briefing at 0900 GMT, follows a similar call from French peer Aperam APAM.AS on Tuesday.

U.S. President Donald Trump on Monday substantially raised tariffs on steel and aluminium imports to a flat 25% "without exceptions or exemptions", sending shares of European and Asian producers falling.

On Tuesday, the EU said it would respond with "firm and proportionate countermeasures" to the new tariffs, which have also been condemned by Mexico and Canada.

Earlier on Wednesday, Voestalpine reported a slump in its third-quarter earnings and cut full-year profit outlook, impacted by the weak automotive market in Europe.

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