A steelworker stands in front of steel coils at the Duisburg steel mill in Germany, owned by the ThyssenKrupp group, on March 20, 2025. MARTIN MEISSNER/AP
The trade agreement announced on July 27 in Turnberry, Scotland, by US President Donald Trump and President of the European Commission Ursula von der Leyen made many losers and a few partial winners – sectors whose situations improved as a result of the meeting. The steel and aluminum industries fell into neither category, as their fate remains uncertain.
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Both were excluded from the general 15% tariff rate applied to the vast majority of exports from the 27 member states to the US. However, they remain subject to the 50% rate imposed by Trump at the end of May. Meanwhile, the European Commission said that not all hope was lost for the metal industries of the European Union (EU). Brussels announced that new talks will begin, after which quotas will be set for exports that will be exempt from the 50% tariffs. Only exports exceeding those thresholds would face the tariff originally set by Trump.
