World: Who suffers the most from U.S. tariffs on steel? - NBF

Krishen Rangasamy, Research Analyst at NBF, suggests that the world’s exporters will be hurt by those new U.S. trade barriers, but Canada and Mexico, both major exporters of steel to the U.S., are exempt for now pending ratification of NAFTA.

Key Quotes

“The European Union stands to lose the most, accounting for 21% of the US$29.1 bn of steel products the U.S. imported last year. Expect Brussels to come out swinging over the next few days with some form of retaliation. Investors better hope this will not snowball into an all-out trade war.”