1 August 2025 – The tariffs on copper introduced under Section 232 affect products that are based on the previous measures for steel and aluminium. Special EU-US deal on steel and aluminium tariffs unlikely. Northern European stainless steel manufacturer reports good Q2 results, with adjusted EBITDA rising by almost 34%.
Special EU-US deal on steel and aluminium tariffs unlikely
We do not currently see any hope of a special deal between the United States and the European Union on the existing Section 232 tariffs on steel and aluminium, as reported in the industry media.
This media hope is based mainly on a statement made by EU Commission President Ursula von der Leyen on 27 July 2025. The Commission’s press release states:
“On steel and aluminium, the EU and the US face the common external challenge of global overcapacity. We will work together to ensure fair global competition. And to reduce barriers between us, tariffs will be cut. And a quota system will be put in place.”
Source: European Commission
Meanwhile, the White House fact sheet from 28 July conveys a completely different message:
„However, the sectoral tariffs on steel, aluminum, and copper will remain unchanged—the EU will continue to pay 50% and the parties will discuss securing supply chains for these products.“
Source: White House
Previous negotiation results show a clear trend
A look at the previous negotiation results between the United States and its trading partners also shows that this situation is unlikely to change.
Apart from the United Kingdom, no other nation has yet succeeded in negotiating exemptions or reduced tariffs on US steel and aluminium tariffs. Not even Japan has managed to agree on an exemption. Japan had already negotiated a major deal with the United States this year for the purchase of US Steel by Japanese steel giant Nippon Steel, which included a commitment to make massive investments in the US steel industry.
Should any new, reliable information on this issue come to light, we will of course communicate it immediately.
Section 232 tariffs on copper: Affected products are based on steel and aluminium
The White House has now published the list of semi-finished and finished products affected by the recently announced 50 per cent Section 232 tariffs on copper.
Contrary to yesterday’s assumption, it appears that the selection of affected goods follows the previous system used for Section 232 measures for aluminium and steel.
Northern European stainless steel producer reports strong Q2 results
A major Northern European stainless steel producer, which also has a significant presence in the United States, released its second-quarter 2025 results yesterday. Compared to the same quarter last year, the company reported an increase of more than 3%. This marks another uptick, following a rise of over 5% already recorded in the first quarter of 2025 compared to the previous year.
Adjusted EBITDA also showed a significant increase for the multinational stainless steel group, improving by nearly 34% compared to Q2 2024. A similar development was seen in Q1 2025, with Adjusted EBITDA rising by just under 29% year-over-year.
Overall, this is yet another indication that the apocalyptic scenarios so eagerly promoted by EU stainless steel mills have once again failed to materialize. Because an apocalypse looks very different.
Latest news
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Disclaimer: Many things here represent our opinion. Others are information from the Internet. We can therefore never claim to be correct or complete. And never base a business decision solely on the news you receive from us.
