President Trump doubles tariffs on steel and aluminium imports to 50%

Euronews

04-06-2025

Neurological conditions affected more than 3 billion people worldwide in 2021, according to a major study published in The Lancet in 2024.
These conditions impact the nervous system and comprise a wide variety of disorders, including epilepsy, Alzheimer's disease, Parkinson's disease, dementia and many others.
Today, neurological diseases are the leading cause of illness and disability worldwide, and beyond the toll they take on patients and their loved ones, they also impose a significant economic burden.
According to another study published in The Lancet, brain disorders are projected to cost the global economy 16 trillion dollars between 2010 and 2030, a figure largely driven by the early onset of these conditions and the resulting long-term loss of productivity.
Given the need for research and treatment of brain disorders, some companies are investing in this area to advance our understanding of the brain.
Among the most high-profile is Neuralink, founded by Elon Musk in 2016. However, Europe has also emerged as a powerhouse in neurotechnology. A notable example is the Spanish company Neuroelectrics, launched by Ana Maiques and Giulio Ruffini in 2011. Over the years, Neuroelectrics has expanded from its European roots to establish a presence in the United States, becoming an international leader in the field.
Ana Maiques, CEO of Neuroelectrics, joined My Wildest Prediction to share her boldest insights and vision for the future of brain technology.
My Wildest Prediction is a podcast series from Euronews Businesswhere we dare to imagine the future with business and tech visionaries. In this episode, Tom Goodwin talks to Ana Maiques, CEO and Co-Founder of Neuroelectrics.
'My wildest prediction is that neurotechnology is going to impact our daily lives in ways we cannot even imagine,' Ana Maiques told Euronews Business.
Maiques clarified that neurotechnology tools should and will not be used to enhance individual traits such as intelligence or reverse ageing. However, she believes these tools will be applied to treat medical conditions, broaden people's experience of reality and strengthen our general understanding of how the brain works.
'A lot of people approach us! (...) We have a paper written with Refik Anadol where we monitored the impact on the visitors' brains of his AI-generated sculptures. Now, we are talking with Michelin-star chefs who want to study the impact of food on the brain from a scientific perspective,' she explained.
Maiques acknowledged the fears some people have about using electricity in the brain but emphasised that much of this concern stems from a lack of understanding of the real, positive impact neurotechnology can have.
Unlike Neuralink, which develops in-brain implants, Neuroeletrics takes a non–invasive approach, using external tools to monitor and interact with the brain.
Neuroelectrics' standout product is the Neoprane Headcap. The cap features electrodes connected to a wireless module located in the back. These electrodes can both monitor the brain activity and deliver electrical stimulation.
This tool can help diagnose sleep disorders, epilepsy, and other neurological conditions. It is especially useful in hospital settings where electroencephalogram (EEG) equipment may not be available or where technicians are not present.
To develop these tools, Neuroelectrics has been using machine learning and AI for years.
'There is no way we can, as humans, decode the brain without the help of these kinds of tools,' Ana Maiques said.
The CEO noted that advancements in AI could lead to the potential modelling of the brain, raising many ethical and scientific questions.
However, she emphasised the importance of continued experimentation, as achieving a complete scientific understanding of the brain remains highly complex.
Washington has doubled its tariffs on steel and aluminium to 50% as President Donald Trump seeks to exclude foreign producers from the US market.
The directive, which the White House shared on X, claimed that the rise would 'provide greater support' to US industries, and would 'eliminate the national security threat' posed by imported steel and aluminium.
'Nobody is going to get around that,' Trump said when first discussing the raise at a rally in Pennsylvania last Friday. 'At 25%, they can sort of get over that fence. At 50% they can no longer get over the fence.'
While Washington claims that excluding foreign producers will support employment in the US, critics argue that it also jeopardises domestic jobs. As materials become more expensive and the price of production rises, US firms may let go of staff to trim costs.
It's estimated that steel and aluminium tariffs introduced during Trump's first term in 2018 destroyed 75,000 US manufacturing jobs, while creating 1,000 extra jobs in the steel industry.
Wednesday's tariff hike also creates added friction with international trade partners ahead of Trump's 9 July deadline, when his so-called 'reciprocal' tariff pause will end. In April, Trump temporarily halted proposed duties on a number of countries. The president's team at the time said they were aiming for '90 deals in 90 days'.
So far, the US has only managed to secure a trade deal with the UK, meaning that British steel and aluminium producers will continue to pay a rate of 25% — at least for now.
The president's tariff proposals also faced a significant legal blow last week. The New York-based Court of International Trade and a federal court in Washington DC ruled that Trump did not have the authority to impose tariffs on nearly every one of the world's countries — a battle predicted to end up in the Supreme Court.
Steel and aluminium levies were not part of that ruling, although Washington will likely want to show its determination to push ahead with duties.
As the latest hike comes into effect, EU trade Commissioner Maroš Šefčovič will meet his US counterpart Ambassador Jamieson Greer on Wednesday on the sidelines of an OECD meeting in Paris.
In 2024, Amazon contributed over €41 billion to Europe's GDP, and over €29 billion to the EU27, according to their latest impact report, released on June 4.
To put that in perspective, €41 billion is just a little bit more than the entire GDP of Latvia.
"Our economic impact in Europe goes far beyond the numbers," explains Mariangela Marseglia, VP of Amazon Stores EU.
"We're creating opportunities where they're needed most, supporting local economies, and helping to revitalize communities across the continent.'
And whilst the impact may 'go beyond the numbers', let's take a closer look at the stats.
In the EU, Amazon directly employs 150,000 people and the impact on communities outside of traditional employment hubs has created an interesting ripple effect on the local economies.
In France's Hauts-de-France region, where unemployment sits at 8.7% - well above the national average of 7.3% - Amazon has created over 6,000 jobs in the past decade.
This region has previously suffered from the deindustrialisation that has plagued many communities in Europe, with the loss of mining, steelmaking and wool industries.
The retail giant's fulfillment centre at Lauwin-Planque employs over 2,600 permanent staff, with 84% living within a 30-minute drive. Eleven years after opening, 71% of locals report the site has had a positive or very positive impact, with 94% highlighting job creation as a key benefit.
This is echoed across the EU as over 90,000 of Amazon's employees are based in areas with higher than average unemployment rates, according to a report from Eurostat.
Research from Ipsos further revealed that 81% of residents near an Amazon logistics facility report increased job opportunities since the company's arrival and over half say financial improvements have led them to consider major life decisions like purchasing property or starting a family.
While zero-hour contracts are banned in several EU countries, in the European countries that do allow them, Amazon confirmed this is not an employment method they practice.
In 2024, Amazon invested more than €55 billion in infrastructure and its workforce across Europe (€38bn in the EU27), bringing its total investment since 2010 to €320 billion.
Although most people know Amazon for its e-commerce platform, a huge part of its business also comes from Amazon Web Services (AWS) and its cloud computing offerings.
Future investments from the company seem centred around AWS and will drive employment in diverse skill sets.
Some €8.8 billion is planned in the Frankfurt region through 2026, supporting 15,200 full-time equivalent jobs and contributing an estimated €15.4 billion to Germany's GDP. Moreover, £8 billion (€9.5 bn) will be invested in the UK before the end of 2028, supporting 14,000 jobs annually and contributing £14 billion (€16.6 bn) to the UK's total GDP.
A further €6 billion is being invested in France to develop cloud infrastructure until 2031. Predictions estimate this will contribute €16.8 billion to France's GDP and will support an average of 5,271 full-time jobs annually.
In Spain, a €15.7 billion injection will support 17,500 jobs annually and contribute an estimated €21.6 billion to Spain's gross domestic product (GDP) through to 2033.