Slovenia worried about U.S. tariffs to jeopardise economic growth

LJUBLJANA, May 31 (Xinhua) -- The tariffs on steel and aluminium that the United States will start imposing on imports from the EU will directly affect the biggest Slovenian steel and aluminium makers, reported the Slovenian national media STA on Thursday.

Meanwhile, Several other Slovenian companies will be indirectly affected as well, according to the report by the Slovenian Press Agency citing the national statistics office data.

The biggest Slovenian steel maker SIJ, which posted revenue of 756 million euros for 2017, exports about nine percent of its production to the United States. The biggest Slovenian aluminium maker Impol exports about 10 million euros worth of goods to the U.S.side annually, with total Slovenian aluminium exports at just under 12 million euros.

Although neither company commented on the news on Thursday, Slovenian Economy Minister Zdravko Pocivalsek pointed out that the tariffs could "jeopardise Slovenian economic growth."

The tariffs are "a stupid external issue that Slovenia cannot affect," he was quoted by the STA report.

U.S. Commerce Secretary Wilbur Ross said on Thursday that U.S. President Donald Trump has decided not to extend the temporary steel and aluminum tariff exemptions for the European Union (EU), Canada and Mexico and those tariffs will take effect from Friday.

Even European companies not directly affected will feel the effects of the measure, commented by the STA report. (1 euro = 1.17 U.S. dollars) Enditem