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Majority of Voestalpine's US steel tariff exemption requests accepted

Voestalpine AG secured approvals for more than half of its applications to be exempted from U.S. steel import tariffs, Reuters reported Oct. 9.

The company received 2,360 positive and 280 negative responses out of a total 4,300 product exemptionsVoestalpine and its customers had applied for and expects to receive more positive responses to the remaining applications.

As a result, the company said the economic risk related to these tariffs has significantly reduced for Voestalpine.

In mid-September, Voestalpine CEO Wolfgang Eder said the company had received 140 responses to 3,500 applications filed, of which "sixty came out in our favor and 80 were decided against us."