European steelmakers' shares hit by latest Trump tariff plans (updated)

Voestalpine AG

10/02/2025 08:58

(Recasts, adds share price reaction, analyst comment)
       FRANKFURT, Feb 10 (Reuters) - Shares in European
steelmakers, which account for about 15% of imports into the
United States, fell on Monday after U.S. President Donald Trump
announced plans for new tariffs on steel and aluminium imports.
    Roughly a quarter of all steel used in the United States is
imported, the bulk of it from neighbouring Mexico and Canada or
close allies in Asia and Europe, such as Japan, South Korea and
Germany.
    Shares in ArcelorMittal  MT.LU   MT.AS , Voestalpine
 VOEST.VI , Thyssenkrupp  TKAG.DE  and Salzgitter  SZGG.DE  were
all down by between 0.6% and 2.2% after the tariff announcement.
    "The company by far the most concerned is ArcelorMittal ...
with 13% of sales generated in the U.S.," said analysts at
financial services group ODDO-BHF.
    ArcelorMittal's finance chief last week said that the hit
from potential U.S. tariffs would be about $100 million a
quarter and that the group had no plans for preemptive
shipments.
    Thyssenkrupp has said that about 5% of its annual production
is exported to the United States.

 (Reporting by Christoph Steitz and Paolo Laudani
Editing by Rachel More and David Goodman)
 ((christoph.steitz@thomsonreuters.com; +49 30 220 133 647;))