The EU Fee chief has warned of “proportionate” countermeasures if the US president raises duties on imports of metals
European Fee President Ursula von der Leyen mentioned on Tuesday that US tariffs on metal and aluminum “won’t go unanswered,” warning that they’ll set off countermeasures from the bloc.
The remarks come after US President Donald Trump said on Monday that he would impose 25% duties on all metal and aluminum introduced into the US, with out exceptions or exemptions. He added that the brand new tariffs will probably be on prime of the prevailing tariffs on metals. A White Home official advised Reuters that the measures would take impact on March 4.
Von der Leyen expressed “deep remorse” over the choice, stating that tariffs are primarily taxes that hurt companies and burden customers. EU metal exports to the US have averaged round €3 billion ($3.10 billion) a 12 months over the previous decade, in line with the most recent information.
“Unjustified tariffs on the EU won’t go unanswered – they’ll set off agency and proportionate countermeasures,” von der Leyen mentioned. “The EU will act to safeguard its financial pursuits. We’ll defend our staff, companies and customers.”
Trump’s transfer drew widespread backlash throughout the EU. The bloc’s commerce commissioner, Maros Sefcovic, described the measure as a “lose-lose situation,” in a speech within the European Parliament on Tuesday, warning that it might gas inflation within the US. He famous that the fee is evaluating the scope of the measures and figuring out an acceptable response.
French Overseas Minister Jean-Noel Barrot additionally mentioned on Monday that Brussels will retaliate towards the tariffs. Barrot highlighted the “spectacular checklist” of US items beforehand focused by the EU in response to related tariffs from Trump’s first time period in workplace in 2018, together with bikes, denims, tobacco, corn, rice, orange juice, and bourbon.
German Chancellor Olaf Scholz advised the parliament that “if the US leaves us no different selection, the European Union will reply, united,” including: “in the long run, commerce wars damage either side’ prosperity,” as quoted by Euronews.
The commerce row between Washington and Brussels started in 2018 when Trump imposed tariffs on European metal and aluminum over nationwide safety considerations, prompting retaliation from the EU. The 2 sides exchanged tariffs on items value over $10 billion. In 2021, the EU reached a short lived truce with the administration of President Joe Biden, pausing tariffs as a part of a deal to determine the World Association on Sustainable Metal and Aluminum. Below the settlement, the US partially lifted its tariffs, introducing quota-based duties, whereas the EU eliminated its restrictions.
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