25 percent rates for steel and aluminum imports in the United States from all over the world, with this announcement, US President Donald Trump has already lit in recent days. What does that mean for the foot alpine? “For us, the United States is a very important market,” says CEO Herbert Eibensteiner. The manager appeals to the EU to work.
The foot salpine has 49 locations in the United States, employs 3,000 people there and reaches around eleven percent of the total turnover in the country governed by Donald Trump, which now makes a clear announcement with 25 percent rates on steel and aluminum of the rest of the world.
“See Trade Wars critical”
How does the foot salpine have this announcement? “The rates are managers for us,” emphasizes CEO Herbert Eibensteiner. Between two and three percent of the turnover of the steel group based in Linz (Upper Austria) would – now – be influenced by the rates. What effects the rates will have is still open in detail: “This will be shown in the coming months, everything is very fresh,” said Eibensteiner. Nache: “We see the escalation of the trade wars critically.”
“Don’t have to hide us”
The boss of 50,670 employees of the European Union demands that negotiations with the United States start immediately and also check countermeasures. “We don’t have to hide,” says Eibensteiner in the direction of Brussels.
Contracts are checked, investments in the US are implemented
The fact is: the foot alpine is currently investigating the contracts for regulations about who would pay for any rates. “There are contracts that ensure such possibilities that American customers have to pay,” says Eibensteiner, who clarifies that local productions avoid the risk of rates. Investment projects of the Steel Company in the US are in implementation: an existing location is produced in Indiana where high -technical special pipes and profiles are produced. The signs are also available in the field of storage systems – but here in Louisville in the state of Kentucky.
Sometimes there are partial models
How is the sometimes difficult demand situation of car, consumer goods, mechanical engineering and construction sector reflected in the locations in Austria? Measures were started here. The reduction of temporary employees is also active, the reduction of overtime and vacation is required of the hour, and share -time models were implemented, as a result of which employees work less and also the salary. “We reduce working hours to keep employees,” says Eibensteiner, who also says: “I cannot exclude that there will be individual measures for regular staff.”
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
