June 13, 2018 / 6:38 PM / 4 months ago

Thyssenkrupp Steel concerned by steel overcapacities after tariffs

BERLIN (Reuters) - Thyssenkrupp Steel Europe says more steel coming to Europe as a result of U.S. steel tariffs would have a more serious impact than the tariffs themselves, an executive said on Wednesday.

FILE PHOTO: A logo of ThyssenKrupp AG is pictured outside the ThyssenKrupp headquarters in Essen, November 23, 2017. REUTERS/Thilo Schmuelgen/File Photo

The direct impact of the tariffs would be “painful, but manageable,” Andreas Goss, CEO of Thyssenkrupp Steel Europe, said on Wednesday.

Germany will press for quick action by a global steel forum to reduce overcapacities in the world market, German Economy Minister Peter Altmaier said earlier at the same event in Berlin.

Reporting by Gernot Heller; Writing by Victoria Bryan; Editing by Andrea Shalal

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