European steel buyers and some manufacturers could benefit from 50% U.S. tariffs on the metal, but the potential for the eye-watering duty rate has rocked the already struggling industry. U.S. steel prices are set to climb further as a result of the higher tariff rate expected to come into effect this week,

By Tom Käckenhoff and Christoph Steitz DUESSELDORF/FRANKFURT (Reuters) -Salzgitter, Germany's second-biggest steelmaker, warned on Monday that Washington's tariff policy was dealing a severe blow to European industry,

The European Union said it is preparing “countermeasures” against the U.S. following President Donald Trump’s unexpected announcement that he would increase his tariffs on steel. EU Commission President Ursula von der Leyen and Trump last week agreed to “rapidly” begin on a trade deal.