June 13, 2018 / 6:38 PM / 7 months ago

Thyssenkrupp Steel concerned by steel overcapacities after tariffs

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

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.

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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