Martin Lindqvist, CEO of Swedish specialty steel producer SSAB, has commented on the introduction by the US of a 25 percent tariff on steel imports, stating that the company’s steel production at its US mills is being supplemented with special, high-strength products from Sweden and Finland that are not produced at its North American product lines, and that, accordingly, the company will investigate the impact of the tariffs on its business. In 2017, these exports to the US totaled around 250,000 mt.
SSAB’s Americas division has a production capacity of 2.4 million mt of steel at its US mills in Iowa and Alabama and these volumes are excluded from the tariffs.
“Our Nordic exports into the US are traded fairly, following established international rules of trade, and we have enjoyed a positive trade relationship for many years. We, therefore, will be engaging with US government officials to advocate for the preservation of this important US-Nordic trade relationship,” stated Mr. Lindqvist.
The SSAB CEO concluded that, if exemptions are not granted, SSAB will continue to evaluate all aspects of its American business - from pricing and investments to logistics and operations - to ensure its business remains profitable and best poised for future growth.