June 1, 2018 / 8:38 AM / 20 days ago

Voestalpine says impact of U.S. tariffs manageable

VIENNA, June 1 (Reuters) - Austrian steelmaker Voestalpine said on Friday the impact of new U.S. tariffs would be manageable but called on the European Union to act quickly to protect its firms from any dumping from other regions that those tariffs might prompt.

Washington on Thursday announced tariffs of 25 percent on steel imports and 10 percent on aluminum from the European Union, Canada and Mexico. The tariffs took effect hours later.

"At most, roughly 3 percent of current Voestalpine group revenue can be affected and the economic risk for Voestalpine therefore remains very manageable even in an extreme case," the company said in a statement. (Reporting by Francois Murphy, editing by David Evans)

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