US President Donald Trump has ordered a 25% tariff on all steel and aluminum imported into the US. Here's how the tariffs will affect Russia and Belgium.
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| European Commission President Ursula von der Leyen expressed regret over Mr. Trump's decision to impose tariffs on aluminum and steel imported into the US. (Source: THX) |
Russian steel suppliers will not feel the impact of Mr. Trump's tariffs on all steel and aluminum imports into the world's largest economy, some experts said on February 11.
Specifically, expert Alexander Firanchuk, senior researcher at the Gaidar Institute's International Trade Research Department, assessed: "Recently, Russia has stopped supplying these metals to the US market, so the impact on Russian metallurgists will be indirect and most likely only cause a slight decrease in world prices."
For his part, expert Gasan Ramazanov of the Gaidar Institute noted that the volume of Russian aluminum exports to the US over the past 30 years has been at a record low.
“Russian suppliers will not feel the consequences of imposing tariffs on steel and aluminum supplies to the US,” the expert said.
* Meanwhile, Belgium, along with many European countries, is facing the impact of Washington's decision to impose import tariffs on steel and aluminum.
In 2023, Belgium's steel and aluminum exports to the US will be worth more than 800 million euros, accounting for about 2.5% of the European country's total exports to the world's largest economy.
Although this figure is not very large in the overall export picture, for the Belgian steel industry, the US remains an important partner, especially in basic steel and aluminum products.
Mr Trump's decision to impose tariffs is expected to complicate the situation further, as the European steel industry is facing a deep crisis caused by a decline in global demand, fierce competition from Chinese manufacturers with excess capacity and higher energy costs than many other regions.
Responding to the US tariff order, on February 11, President of the European Commission Ursula von der Leyen expressed regret over this decision, while emphasizing the need to ensure fair tariffs, accordingly, the European Union (EU) will take countermeasures.
Source: https://baoquocte.vn/my-ap-thue-nhom-thep-uoc-tinh-thiet-hai-voi-nga-va-bi-eu-tuyen-bo-se-dap-tra-303993.html
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