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The European Union is preparing for losses of 28 billion euros due to US duties

February, 24 2025
watermark Economic news

The EU could face losses of 28 billion euros as a result of the imposition of import duties on steel and aluminum initiated by US President Donald Trump. 


The volume of products covered by these measures has increased by about four times compared to 2018, when the European metal sector first became the focus of Washington's attention.


European Commissioner for Trade and Economic Security Maros Sefcovic, after talks with American representatives in Washington, noted that the current situation remains extremely dynamic. According to him, the scale and technical details of the new tariffs may be reviewed.


The new duties on aluminum and steel are expected to take effect on March 12, as Trump officially announced on February 10.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.