The level of Turkish steel imported to Europe has grown significantly as a response to US tariffs, according to the European steel association Eurofer . With steel import tariffs into the US at 25% for most countries, and a double rate of just 2.2% for Turkey , much of the produce that would previously have gone to America is being redirected to Europe . As the European steel association Eurofer steel consumption is expected to grow 57% in 2018 and just 2.2% in 2019 , the surplus of supply is threatening European steelmakers' profitability as imports to the continent from America increased by 57% in Q1-Q3 this year .
The level of Turkish steel imported to Europe has grown significantly as a response to US tariffs, according to the European steel association Eurofer. With steel import tariffs into the US at 25% for most countries, and a double rate of 50% for Turkey, much of the produce that would previously have gone to America is being redirected to Europe. As EU steel consumption is expected to grow just 2.2% in 2018 and 1.1% in 2019, the surplus of supply is threatening European steelmakers' profitability as imports to the continent from Turkey increased by 57% in Q1-Q3 this year.