US Tariff Exposure
US Tariffs on Luxembourg
Updated August 2026 · source: USTR Section 301 & Federal Register
Tiny Luxembourg holds over $400B in U.S. Treasury bonds through its massive investment fund industry. A 20% tariff affects its steel exports (ArcelorMittal is based there), but the financial ties are the real story.
Luxembourg tariff rates by sector
| Sector | US tariff rate | Source |
|---|---|---|
| Steel Products | 25% | USTR / official |
| Financial Services | 20% | USTR / official |
| Chemicals | 20% | USTR / official |
| Machinery | 20% | USTR / official |
| Plastics | 20% | USTR / official |
Luxembourg trade & debt exposure to the US
- U.S. Treasury Holdings $400.8B Major holder via fund industry
- Trade Deficit (Annual) $1.2B 2024 goods trade deficit
Luxembourg tariffs — FAQ
What is the US tariff rate on Luxembourg?
Luxembourg faces an effective US tariff of 20%, with Steel Products seeing the highest sector rate at 25%. Rates are drawn from USTR Section 301 schedules and recent Federal Register actions.
Which Luxembourg sectors are hit hardest by US tariffs?
Steel Products (25%), Financial Services (20%), Chemicals (20%).
What does Luxembourg's tariff impact score mean?
40/100 — FinBrio's impact score combines the headline tariff rate, how many sectors are affected, and the country's trade exposure to the US into a single 0–100 measure of how hard US trade policy hits it.
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