0800 GMT - A potential doubling of U.S. steel tariffs on foreign imports would support U.S. domestic producers, but it also increases the risk of demand destruction, Deutsche Bank analysts Bastian Synagowitz and Liam Fitzpatrick say in a research note. A doubling of tariffs to 50% from Wednesday is expected to force U.S. steel prices up. In addition, it poses a risk to European producers that trade flows get rerouted. This would put Europe's steel sector under further stress in the third and fourth quarter of the year, which could increase pressure for a response by the European Union, the analysts say. (pierre.bertrand@wsj.com)
(END) Dow Jones Newswires
June 03, 2025 04:00 ET (08:00 GMT)
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