Trump tariffs could wipe out European steel sector, senior industry figure says

Europe’s steel industry faces being wiped out in the face of Donald Trump’s prohibitive 50% tariffs, high energy costs and a mountain of cheaper Chinese steel, one of Germany’s biggest industrial groups has warned. “If the European steel industry disappears, we will have a lot of collateral damage,” Henne said. “A weak European steel industry is not only a weak European steel industry. Chinese steel imports soared by 36% in the first quarter of 2025, according to Eurostat. US representatives also have concerns that British Steel, which is owned by China’s Jingye group, could be used as a “back door” to bring in Chinese products.