Steel producers seem to take tariffs in their stride

European steel producers appear to have shrugged off concerns over the impact of US tariffs, with share prices rebounding to near pre-US government intervention levels. The share price of leading European steel producers fell by about 10% following the Bush administration's 4 March decision to impose tariffs of 8-30% on imports of foreign produced steel. Since then, they have regained much of the loss. John Hatherly, head of global analysis at M&G, believes the tariffs will have little impact on European steel manufacturers as they export little to the US. He says only 4% of steel p...