overcapacity but it s america s biggest allies that could end up taking the most flack let s take a look canada for example is the biggest exporter of steel in the united states followed by the european union you can see here brazil china for example it s all the way down the bottom of this list at position eleven now the impact on allies will be big europe is the europe steel association rather your affair says that could slash american imports of european steel which was valued at a five billion euros last year so if that does happen the likes of big industrials like german car makers could be the first victims and steel tariffs will hit partners but a global trade war is the ultimate nightmare scenario and among those german companies which we are talking about is the industrial giant zeman is now is coming off the back of a turbulent week it shares lost three percent of the value off to trump s tariffs