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,

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, after the U.S. administration unveiled plans to double steel import levies to 50%.

The EU has said it "strongly" regrets Donald Trump's surprise plan to double US tariffs on steel and aluminium in a move that risks throwing bilateral trade talks into chaos.