Austrian steel firm to reconsider US investments

Austrian steel firm Voestalpine said Friday it would reconsider its investments in the United States in light of President Donald Trump imposing tariffs on steel and aluminium imports, reports AFP from Vienna.

"Despite the limited impact of the punitive tariffs on our group, the current actions of the US administration have led us to critically examine whether all our plans for further investments in North America are economically and politically sensible," Voestalpine chief executive Wolfgang Eder said in a statement.

Voestalpine noted it had invested $1.4 billion (1.1 billion euros) in the US in recent years, creating 3,000 jobs.

Its 49 sites in the country generated 1.2 billion euros in revenue last year, and the company said that most of its sales in the United States would not be impacted by the tariffs.

 

Austrian steel firm to reconsider US investments

Austrian steel firm Voestalpine said Friday it would reconsider its investments in the United States in light of President Donald Trump imposing tariffs on steel and aluminium imports, reports AFP from Vienna. Despite the limited impact of the punitive tariffs on our group, the current actions of the US administration have led us to critically examine whether all our plans for further investments in North America are economically and politically sensible, Voestalpine chief executive Wolfgang Eder said in a statement. Voestalpine noted it had invested $1.4 billion (1.1 billion euros) in the US in recent years, creating 3,000 jobs. Its 49 sites in the country generated 1.2 billion euros in revenue last year, and the company said that most of its sales in the United States would not be impacted by the tariffs.