J.P. Morgan: The increase in steel tariffs by the United States will have a negative impact on European producers.

Jefferies analysts Cole Hathorn and Tommaso Castello stated in their report that increasing the US steel import tariffs from 25% to 50% will have a negative impact on EU-listed steel companies exporting to the United States. For example, ArcelorMittal, based in Luxembourg, is expected to face losses of $100 million each quarter under the 25% tariff. If the tariff increases to 50%, this impact will rise, estimated to exceed $500 million annually. Jefferies also stated that the 50% tariff increase will affect Austria's Voestalpine company, increasing the impact from 30-40 million under the initial 25% tariff to over 80 million.