'We will withstand US tariffs,' steel chief says

(ANSA) - Rome, May 31 - US steel prices are so high that Italian exports can withstand even a 25% duty, Federation of steel manufacturers Federacciai president Antonio Gozi told ANSA on Thursday after the US announced it was imposing tariffs on imported steel and aluminium from the EU.
    "There is a difference of approximately 200 dollars per tonne between US steel and similar Italian products," Gozi explained.
    "Of course we need to see how American prices evolve. If the differential falls there will be repercussions," he added. "Today is not a good day, but we must keep a steady nerve and avoid greater damage," Gozi said. The Federacciai chief fears a possible trade war between the US and the EU, with a negative impact on the automotive sector. "Tariffs on the car industry would be extremely dangerous for the European steel industry and for an exporting country such as Italy, which has relaunched growth," he said.