Company: TNRSF
Filing Date: 2025-08-01
Form Type: 6-K
Source: 0001171843-25-004943
Chunk: 43

Company: TENARIS SA
Filing Date: 2025-08-01
Form: 6-K
Chunk 43
---
 to be settled under the corresponding share buyback programs, which amounted to $363
million and $243 million, respectively, valued at fair value.

Further information on the share buyback programs and share repurchases
thereunder is available on Tenaris’s corporate website under the Share Buyback Program Section.

| 24 | Tariffs on steel and other imports in the United States |

On February 1, 2025, the U.S. government announced the imposition of flat
tariffs applicable to all products imported from Mexico and Canada, but subsequently suspended the effectiveness of such tariffs, citing
ongoing trade negotiations.

On February 10, 2025, the U.S. government announced changes to the tariffs
applicable to imported steel products, including those produced and sold by the Company. These charges include the extension of a 25%
tariff to all imported steel products, which became effective on March 12, 2025, pursuant to a phased-in implementation plan, initially
applying to raw steel products, with downstream (“derivative”) products being subject to the tariff starting June 1, 2025.
Exclusions that currently exempt specific products and countries from the existing tariffs would end under the announced plan. On June
4, the U.S. government increased these tariffs to 50%, with the exception of steel imports from the United Kingdom whose tariffs remain
at 25%, and on June 16, 2025, extended the list of steel derivative products to which the tariffs apply.

| 29 |

These announced U.S. tariffs on steel imports and other tariffs, including
those arising under a reciprocal tariff regime announced by the U.S. government on April 2, 2025 (currently suspended until August 1,
2025, to give time for the negotiation of trade agreements with the countries involved) or under the retaliatory measures enacted by other
countries, could affect market prices and dynamics, supply chains, and cost structures. However, implementation is still uncertain. Negotiations
with trading partners on this matter are ongoing, with some more advanced than others. The potential for litigation or international retaliation
introduces further uncertainties. In this context, the Company is unable at this time to predict the evolution or ultimate outcome of
these developments, or to quantify the impact that the announced measures, if maintained, would have on its business or financial condition.

<div align='center'>Carlos Gómez Álzaga

Chief Financial Officer

30</div>