That trade dispute is putting pressure on major steelmakers, and ArcelorMittal ( MT -1.23% ), Europe and the world's largest steel producer, is right in the thick of things. The company's chairman, Lakshmi Mittal, called in the EU last month to launch protectionist measures for the steel industry against Chinese competitors. ArcelorMittal has taken its hits recently, posting a $345 million net loss for 2013's first quarter, and Europe's scrum with China could exacerbate problems for this steel producer in the future -- particularly if China retaliates against any EU action with tariffs of its own, as it has already considered launching against European wine imports.