Spain’s Acerinox says tariffs positive in principle, but wary of surplus flooding EU

MADRID (Reuters) – Spanish steel maker Acerinox said on Thursday that the U.S. tariffs would have “in principle” positive effects on the company as the country is its main market and where its main steel mills are located. The positive impact would offset the broad effects they may have on the economy, the company said. Acerinox added the European Union should protect its steel industry as a lot the steel made in the countries hit by the tariffs is likely to flood the EU market as they become less competitive in the U.S.

(Reporting by Javi West, editing by Inti Landauro)