EU says Trump tariffs will trigger firm countermeasures
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EU trade chief Maros Sefcovic described the US decision in a speech in the European Parliament as a “lose-lose scenario”.
PHOTO: REUTERS
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BRUSSELS - European Commission president Ursula von der Leyen on Feb 11 vowed “firm and proportionate countermeasures” in response to US President Donald Trump’s decision to impose tariffs on all steel and aluminium imports
Mr Trump signed proclamations late on Feb 10 to raise tariffs on all steel and aluminium imports to 25 per cent without exceptions or exemptions.
A White House official said that the measures would take effect on March 4.
Dr von der Leyen said in a statement that she deeply regretted the US decision, adding that tariffs were taxes that were bad for business and worse for consumers.
EU steel exports to the US have averaged about €3 billion (S$4.19 billion) a year over the past decade.
“Unjustified tariffs on the EU will not go unanswered – they will trigger firm and proportionate countermeasures. The EU will act to safeguard its interests,” she said.
Dr von der Leyen did not provide details of the response.
One option would be to reactivate the tariffs the EU imposed in 2018 that were suspended under a truce agreed between Dr von der Leyen and former US president Joe Biden.
The EU tariffs on US products such as bourbon, motorcycles and orange juice are currently suspended until the end of March.
EU trade chief Maros Sefcovic described the US decision in a speech in the European Parliament as a “lose-lose scenario”.
He added that the Commission was now assessing the scope of the US measures and the appropriate EU response.
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The Commission is set to hear the views of its 27 EU members on the bloc’s response at a videoconference of EU trade ministers convened for Feb 12.
The steel and aluminium tariffs imposed by Mr Trump in 2018 were suspended under Mr Biden. However, they were replaced with quotas.
EU steel producers have seen export volumes to the US drop by about 1 million tonnes to 2.2 million in 2019 to 2024.
A major industry concern is that the 15 million tonnes the US imported in 2024 from countries other than the EU will be redirected towards the bloc if tariffs are imposed. REUTERS
