In Madrid, Spanish steel manufacturer Acerinox expressed optimism about the potential benefits of the U.S. tariffs on its business, noting that the U.S. is its primary market and where its main steel plants are based. While acknowledging the broader impact these tariffs could have on the economy, Acerinox believes that the positive effects on the company will outweigh the negative effects. The company also emphasized the importance of the European Union safeguarding its steel industry, as it is possible that countries affected by the tariffs may redirect their steel exports to the EU due to decreased competitiveness in the U.S. market.