Josh Spoores, head of CR's steel analysis division, warns that higher steel tariffs in the US could fuel domestic inflation, while Europe could benefit from lower prices due to a steel surplus

Following the imposition of steel tariffs in the US, CRU's Josh Spoores points out that prices will rise, fueling local inflation. Europe may see lower prices because of the steel surplus, but European manufacturers like BMW will suffer significant losses. Analysts warn that new trade barriers will erode profit margins and the European Union is reacting, underlining the uncertainty. Josh Spoores estimates the tariffs will not stay in place for long because of their impact on the economy.