0834 GMT - A potential increase to 50% import duties from 25% by the U.S. on steel would be a headwind for EU-listed steel companies which export to the country, Jefferies analysts Cole Hathorn and Tommaso Castello say in a research note. For example, Luxembourg-based ArcelorMittal faces an estimated $100 million a quarter hit under a 25% tariff scenario, the analysts say. That quarterly impact would rise, totaling an estimated more than $500 million a year, if tariffs increase to 50%, they add. A rise to 50% tariffs would also affect Austria's Voestalpine, Jefferies says, increasing the hit to the company to more than 80 million euros from an initial 30 million to 40 million euro impact under 25% tariffs. (pierre.bertrand@wsj.com)
(END) Dow Jones Newswires
June 02, 2025 04:34 ET (08:34 GMT)
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