The President of the United States, Donald Trump, has extended his threat of tariffs to Basque steel as part of his electoral promises, announcing an imposition of up to 25% surcharge on all steel, iron, or aluminum entering the United States. This measure directly affects the company located in the Basque Country, Tubos Reunidos, which is already analyzing how to overcome the impact. If implemented (according to the new president immediately), this measure has not been well received by Basque companies in the sector, as they see that this regulation would lead to a significant increase in prices for products from Basque industrial tractor manufacturers such as Tubacex or Tubos Reunidos, which are also closely linked commercially to the North American economy.
For now, we will have to wait for the fine print and see if this measure also affects other sectors that rely on these raw materials, such as automotive or aerospace. The North American country had exceeded €500 million in purchases from the steel industry in Euskadi but has lost commercial weight mainly due to the production drop at Tubos Reunidos. The U.S. is a significant market for Basque steel, being the third largest; however, its share of total purchases is still far from that of Germany and France. Other large steel companies like Sidenor, Olarra, or the Basque plants of ArcelorMittal focus most of their production on more local and European markets.
