According to Henrik Adam, Trump’s tariffs will worsen already dire market conditions in the European Union, diverting imports that otherwise would have landed in the U.S. to the EU. 

“Already today global steel overcapacity is being off-loaded massively on the vulnerable EU steel market at very cheap prices, mainly from Asia, North-Africa and the Middle East. This is leading to the inability to invest in the green transition and ultimately de-industrialization of Europe," he said. 

In 2024 alone, the EU steel industry had to close 9 million tonnes of capacity with over 18,000 job cuts announced. The executive order by President Trump will inevitably further exacerbate the situation,” he added. 

In response, Adam is calling for EU policymakers to strengthen the bloc’s tariff-rate quota system. 
“Without an immediate tightening of the current safeguard quota regime, the deflection provoked by the new U.S. steel tariffs will inevitably push EU steel capacity into additional idling and, ultimately, closure,” he said.