Spanish steelmaker Tubos Reunidos closed 2025 with net losses of €71.3 million, a dramatic turnaround from the €28.6 million profit it posted in 2024. This decline was primarily due to the 50% US tariffs on imported steel.

Although the company's sales grew by 13% to reach €365.7 million, lower margins resulted in operating losses of €22.8 million and an increase in net debt to €263.2 million.

As a result, Tubos Reunidos announced plans to lay off 301 workers, approximately 23% of its total workforce of 1,300 employees, to reduce costs and return to positive cash flow by 2027. This decision comes amid declining orders and intense international competition, as the company seeks to survive the trade war and the global steel market's overcapacity.