21 March 2025 – In order to gain more leeway for negotiations with the US government, the European Commission has temporarily postponed the introduction of counter tariffs on US goods. Steel mills in the EU are once again complaining louder about market conditions – common ground? It’s always the others’ fault!
EU postpones introduction of counter tariffs on US goods
In order to gain more room for manoeuvre for negotiations with the US government, the European Commission has temporarily put its ego to one side. Probably also in response to massive protests from European companies. US President Donald Trump had threatened that if certain products, such as American whiskey, were subject to punitive tariffs, European wine exports would receive a punitive tariff of 200%.
The introduction or reactivation of counter tariffs in response to the adjustment of the existing US Section 232 tariffs on steel and aluminium had already been announced by the Commission a few weeks ago. One of President Trump’s main arguments as to why the Section 232 tariffs had to be adjusted was the sharp rise in steel exports from Europe to the United States.
With more than 200 million tonnes of crude steel capacity per year, the European Union is considered the region with the highest overcapacity in steel production after China.
EU steel mills: it’s always the others’ fault
No sooner has the European Steel and Metals Action Plan seen the light of day than the loud moaning of the EU steelworks begins. Because, as in almost every statement from the domestic mills, it’s always the others’ fault and never their own.
Green steel dream shattered by hydrogen fantasies
A good example of this is the recent statement by thyssenkrupp’s CEO that although the company is building a €3.3 billion direct reduction plant for sponge iron, which is largely financed by taxpayers’ money, it will probably not be able to operate it economically – because, oh wonder, there would not be sufficient and inexpensive green hydrogen available.
Unsurprisingly, the green hydrogen fantasies of the European Union and the German government were already exposed by us as unrealistic and utopian in 2021, shortly after their creation.
Thorsten Gerber, CEO of the Gerber Group, said today: ‘Instead of constantly ridiculing our warnings about this aberration, the people in Essen should have simply put self-importance to one side and switched on their brains.’ He continued: ‘But they have preferred to have the billions in publicity-grabbing subsidies instead of the EU and member states putting them to better use in stimulating demand in the internal market.’
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