Steel Trade War: Europe Shuts Its Doors as U.S. Tariffs Redirect Shipments Home

U.S. tariffs on steel jumped to 50%, causing American buyers to stop importing from Europe. Those shipments now flood back into the EU market. On July 1, Europe fought back by slashing its allowed steel imports by nearly half and charging 50% extra taxes on anything beyond that limit—a shield against a glut its own steelmakers can't absorb.