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The National
4 days ago
- Business
- The National
UAE steel producers don't expect major impact from Trump's doubling of import tariffs
UAE-based steel producers do not expect to see any major impact from the latest move by the US to double tariffs on steel imports. US President Donald Trump has raised import duties on steel and aluminum imports to 50 per cent, from 25 per cent previously, starting on Wednesday, the White House said. The new tariffs apply to all trading partners except the UK, which struck a preliminary trade agreement with the US last month. However, steel manufacturers in the UAE don't anticipate a hard hit. The US decision to double steel import tariffs "may have an indirect effect on market dynamics but is not expected to materially impact Emsteel's business", Michael Rion, chief commercial officer at Emirates Steel, part of Abu Dhabi listed Emsteel Group told The National. The company has a "modest exposure" to the US market, with exports accounting for less than 2 per cent of total annual sales, he said. "Given this proportion, the financial and operational impact of the new tariff regime is considered minimal. "Our current US business model is opportunistic and margin-driven, not volume-dependent." The company currently exports steel products to 70 markets around the globe. Meanwhile, UAE-based steel products manufacturer Conares said it is diversifying its export markets across Asia, Africa and Europe. "With the US potentially becoming less accessible, we foresee increased demand and strategic opportunities within the GCC and Mena regions," said Bharat Bhatia, founder and chief executive of Conares. The company is also "actively strengthening its domestic footprint to meet infrastructure and construction growth locally", he said. Conares has large steel plants in Jebel Ali Free Zone with an annual production capacity of 100,000 tonnes of steel products including rebars, pipes, and color-coated steel coils, strips and plates. The latest move comes as the Trump administration continues with its trade protectionist policy. 'Foreign nations have been flooding the US market with cheap steel and aluminium subsidised by their governments," the White House said on Tuesday. 'President Trump is taking action to end unfair trade practices and the global dumping of steel and aluminium." The White House said Mr Trump's tariffs in his first terms as President 'strengthened the US economy,' and 'led to significant reshoring' in industries like manufacturing and steel production. 'While the domestic steel industry briefly achieved 80 per cent capacity utilisation in 2021, subsequent trade pressure has depressed domestic production," it said. In 2022 and 2023, capacity utilisation fell to 77.3 per cent and 75.3 per cent, respectively, with high import volumes being a "major factor in depressing domestic production volumes". While Mr Trump announced sweeping tariffs across industries and nations two months back, Washington is currently holding talks to reach an agreement on lowering levies. On May 12, the White House announced that China and the US struck a deal to suspend their tariffs for 90 days. Washington and Beijing lowered their levies to 30 per cent and 10 per cent, respectively from an initial announcement of 145 per cent and 125 per cent in April.
Time Out Abu Dhabi
23-05-2025
- Business
- Time Out Abu Dhabi
Abu Dhabi is building the world's first net-zero mosque
Abu Dhabi is no stranger to breaking records, but its latest project is innovation in every sense. Aldar is behind what will be the world's first net zero mosque – and it's using hydrogen steel to do it. Set to rise in Sustainable City Yas Island, this futuristic house of worship will be the first in the Middle East and North Africa to use hydrogen-based steel rebar, supplied by EMSTEEL Group. That's a big deal because steel is one of construction's biggest carbon offenders – but hydrogen-based steel can slash those emissions by up to 95 percent. That means fewer emissions and more blessings for the planet. With space for more than 850 worshippers across 1,595 square metres, the mosque is aiming for LEED Zero Carbon certification – another first for the capital. Everything from the clean energy powering it to the materials used has been chosen with sustainability in mind. From concrete and cooling to prayer carpets and lighting, this is a space where design and devotion meet cutting-edge decarbonisation. The announcement was made during Make It In The Emirates 2025 – a heavyweight gathering of the UAE's industrial and manufacturing minds – where Aldar and EMSTEEL unveiled their game-changing partnership. It's part of a broader push to green the country's construction sector and recirculate value into the UAE economy through the National In-Country Value (ICV) programme. The mosque is part of Aldar's bigger promise to hit net zero across its operations by 2050. With green construction, clean energy, circular economy practices and now hydrogen steel on the cards, it looks like they're well on their way to reaching real estate nirvana. Salwa Al Maflahi, executive director of sustainability and community outreach at Aldar, said: 'The low emissions hydrogen-based rebar is more than a material innovation – it's a catalyst for reshaping our industry. 'As we transition to low-carbon construction, green steel enables us to reduce embodied carbon at scale, without compromising structural integrity or design ambition. Our partnership with EMSTEEL marks a bold step forward in accelerating the decarbonisation of our supply chain and delivering on our net zero ambitions. This is a game changer for sustainable real estate development.' Michael Rion, chief commercial officer at Emirates Steel, part of EMSTEEL Group, said: 'At EMSTEEL, we are proud to support the region's transition to sustainable construction by supplying low-emissions hydrogen-based rebar for this landmark project. collaboration with Aldar represents a significant advancement in the use of green steel and underscores our commitment to innovation, environmental responsibility, and the UAE's industrial sustainability agenda. 'Through such partnerships, we aim to decarbonize the value chain of the construction industry and drive long-term impact across the built environment. This project sets a precedent for future developments, with both Aldar and EMSTEEL exploring the broader adoption of green steel across residential, commercial, and public infrastructure projects in the UAE and beyond.' You might also like… The best beaches in Abu Dhabi for a relaxing day in the sun From quiet family-friendly spots to where you'll find the beach club party atmosphere Everything we know so far about Etihad Rail From map routes to timings and more 19 of Abu Dhabi's most Instagrammable spots Do it for the 'gram
