The European Union on Saturday spoke out in opposition to US President Donald Trump‘s newest tariff announcement concerning metal imports – and threatened a response earlier than the summer season.
“We strongly regret the announced increase of US tariffs on steel imports from 25% to 50%,” stated a spokesman for the European Commission in Brussels, which is answerable for EU commerce coverage.
“This decision adds further uncertainty to the global economy and increases costs for consumers and businesses on both sides of the Atlantic.”
The EU is able to take countermeasures, the assertion continued. This may additionally occur sooner than July 14.
As issues presently stand, EU counter-tariffs already deliberate because of Trump’s preliminary tariff selections would routinely come into pressure on this date.
The bloc had wished the measures to return into pressure on April 14, however held again after Trump granted many international locations and the EU a 90-day pause from sure tariffs.
This window of alternative had been supposed for use for negotiations. The EU has repeatedly emphasised that it’ll introduce decisive measures in opposition to US tariffs if the talks fail.
Speaking at a rally at a US metal plant close to Pittsburgh on Friday, the US president stated the extra import charges would strengthen the nationwide metal trade, including that tariffs had been his absolute favorite phrase.
Trump’s administration has justified the prevailing metal tariffs as a measure to guard nationwide safety. He has already introduced, threatened or carried out quite a few different tariffs.
In addition to a brand new penalty tariff of 10% of the worth of products on virtually all imports, he has introduced particular, greater tariffs on imports, together with from main buying and selling companions comparable to China and the European Union.
Source: www.anews.com.tr