Salzgitter CEO Says Erratic Tariff Policy Of The US Is Hitting Europe's Economy Hard - Especially Germany

June 2 (Reuters) - SALZGITTER AG CEO SZGG.DE:

• SALZGITTER AG'S DIRECT U.S. BUSINESS IN THE STEEL SECTOR IS NOT OF ANY SIGNIFICANT SIZE

• STEEL INDUSTRY NEEDS RELIABLE PROSPECTS FOR THE FUTURE

• AN INCREASE IN STEEL IMPORT TARIFFS IN THE USA TO 50% SHOULD PROMPT THE EU COMMISSION TO ACCELERATE ITS EFFORTS TO IMPLEMENT THE MEASURES IN THE STEEL AND METALS ACTION PLAN

• AT EU LEVEL, THIS MEANS AN EFFECTIVE CARBON BORDER ADJUSTMENT THAT PREVENTS CIRCUMVENTION, INCORPORATES VALUE CHAINS AND MAKES EXPORTS COMPETITIVE

• ERRATIC TARIFF POLICY OF THE USA IS HITTING EUROPE'S ECONOMY HARD - ESPECIALLY GERMANY

• DECISIVE STRUCTURAL REFORMS ARE FINALLY NEEDED AT NATIONAL LEVEL - ABOVE ALL FOR INTERNATIONALLY COMPETITIVE ENERGY COSTS