US steel tariffs: European Union prepare for trade war

US steel tariffs: European Union prepare for trade war

US steel tariffs: European Union prepare for trade war

Written by Keshala Dias

03 Mar, 2018 | 7:38 am

European Union officials have said they will respond “firmly” if US President Donald Trump presses ahead with his plan for steep global duties on metals.

EU trade chiefs are considering slapping 25% tariffs on around $3.5bn (£2.5bn) of imports from the US, Reuters news agency reports.

Hence, the European Union is considering retaliatory tariffs, targeting US steel, agriculture and other products.

“If the Americans impose tariffs on steel and aluminium, then we must treat American products the same way,” the European Commission President told German television stations.

Tensions grew after Trump announced that he plans to impose a 25% tariff on steel imports and 10% on aluminium.

Trump also tweeted saying “trade wars are good”.

 


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