Wall St. Opens Lower on Fears of Escalating Trade War<br />He vowed the bloc would not “sit idly while our industry is hit with unfair measures that put thousands of European jobs at risk.”<br />Canada accounted for the largest share of steel imports into the United States, about 16 percent in 2017, according<br />to the latest data from the United States Department of Commerce’s International Trade Administration.<br />In Europe, Germany accounted for about 4 percent of United States steel imports last year, followed by the Netherlands, with 2 percent;<br />and Italy, with 1.4 percent, according to United States data.<br />“The consequences for the E. U.<br />steel mills could range from lower margins to protective measures fueling steel inflation.”<br />Steel makers based outside the United States were generally trading lower on Friday after the trade announcement.<br />Jean-Claude Juncker, the president of the European Commission, said on Thursday night, shortly after the comments by Mr. Trump,<br />that the tariffs appear to represent “a blatant intervention” to protect the United States steel industry.
