Auto Giants and Steel Producers Brace for Impact as EU Commissioner Holds Crisis Talks

European automotive and steel industries are mobilizing crisis response teams as EU Trade Commissioner Maroš Šefčovič holds emergency consultations with corporate leaders to address the immediate impacts of Trump’s trade threats. The commissioner’s video conference with CEOs from Mercedes-Benz, Volkswagen, BMW, and Stellantis underscores the severe challenges facing Europe’s manufacturing backbone.
The automotive sector faces a particularly complex situation, with Trump’s existing 25% tariffs on cars already in place while the threat of additional 50% duties looms over all European goods. These compounding tariffs could make European vehicles prohibitively expensive in the American market, forcing companies to completely restructure their North American strategies or risk losing market share to domestic competitors.
Steel and aluminum producers continue operating under Trump’s 25% tariffs, which have remained constant throughout the current trade dispute. The uncertainty has forced many companies to withdraw their financial forecasts entirely, as executives struggle to price products and plan investments without knowing whether tariffs will be 10%, 50%, or somewhere in between. This business paralysis extends beyond direct exporters to include suppliers, logistics companies, and service providers throughout European industrial supply chains.