EU oversees scrap metal trade/ Falling supplies and US tariffs threaten European industry
The European Commission has started monitoring imports and exports of scrap metals, including steel, aluminium and copper, after dire warnings from the industry about shortages and the risk of smelters closing.
EU factories have long struggled to secure supplies of scrap metal, a crucial input and an integral part of the EU's drive to reduce carbon emissions. Most of the scrap is exported to Asia and Turkey.
US President Donald Trump's tariffs on primary steel and aluminium have exacerbated the problem, as traders have started selling aluminium scrap to American smelters.
"The EU is experiencing a decline in the availability of scrap. The imposition of a 50% tariff by the United States on a wide range of steel and aluminum products (excluding scrap) could further exacerbate this issue," the Commission said in a statement.
The institution will decide what actions to take by the end of September, based on the data being studied.
Meanwhile, duties targeting exports to the US could take effect sooner if the European Union fails to reach a trade deal with Trump and decides to retaliate with countermeasures.
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