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Ljubljana – The introduction of a 25% tariff by the United States on the import of steel and aluminum, which will take effect on March 12 following the decision of US President Donald Trump and will also apply to the EU, is bad news, agree Slovenian companies involved in steel and aluminum. They are especially worried about increased competitive pressure.
One of the leading producers of stainless and special steels in Europe, the Sij Group, sees the US as an important market with long-term potential, having generated around one hundred million euros or 9.9% of its sales revenue there last year, which is approximately 16.5% more than the previous year, they told STA at Sij.
With its own company Sij Americas, we have been present in the US for over 30 years, and in 2022 we also established our own warehouse of over 3000 square meters near Chicago in the town of Romeoville to bring our products closer to customers and gain an even larger market share in the American market,” they explained.
On this occasion, they reminded that Slovenia currently has a quarterly import quota for exporting stainless steel heavy plates to the USA, which is exempt from customs duties. Quantities exceeding this quota are subject to a 25% import duty on steel.
“The abolition of quotas and exclusion, as well as any further increase in import duties, would negatively affect our price competitiveness compared to American steel producers, so we will closely monitor the development of events and respond in accordance with our strategic goals,” they announced.
Meanwhile, in the aluminum processor Impol, they have already reduced the volume of exports to the USA in response to anti-dumping measures in 2020, they stated to STA. Even then, the US was led by Trump. Thus, in 2019 the group realized 10% of its total sales in the US market, while in 2024 it did not represent even three percent of the total sales of the Impol group.
Even less dependent on the American market are producers of primary aluminum and aluminum alloys, Talum. Last year, they sold less than half a percent of their production there, so the tariffs will not directly affect them.
Last year, Slovenian companies exported to the US, according to provisional data from the national statistical office, products worth just under 91.3 million euros in steel and 32.5 million euros in aluminum and aluminum products. This export has significantly increased annually. In 2023, it amounted to just over 71.6 million euros in the area of steel products and 19.5 million euros in the area of aluminum and aluminum products.