• петок, 21 февруари 2025

EU: 'no justification' for US tariffs on steel and aluminium exports

EU: 'no justification' for US tariffs on steel and aluminium exports

Brussels/Washington, 10 February 2025 (dpa/MIA) - The European Union "sees no justification" for imposing US tariffs on steel and aluminium exports from the bloc, a statement from the European Commission published on Monday said.

"We will not respond to broad announcements without details or written clarification," the press release said.

"We will react to protect the interests of European businesses, workers and consumers from unjustified measures."

So far the commission has not officially been notified of any additional tariffs on EU exports.

The commission statement stressed that "the imposition of tariffs would be unlawful and economically counterproductive."

"Tariffs are essentially taxes. By imposing tariffs, the US would be taxing its own citizens, raising costs for business, and fuelling inflation. Moreover, tariffs heighten economic uncertainty and disrupt the efficiency and integration of global markets."

Meanwhile, French Foreign Minister Jean-Noël Barrot was more forthright and indicated that the European Union will impose retaliatory tariffs in response to new duties on steel and aluminium announced by US President Donald Trump.

"There's no hesitation when it comes to defending our interests," the minister told French broadcaster TF1 on Monday morning.

The European Commission will "identify the sectors that will be subject to these retaliatory measures," he stated.

"And I say it again: No one has an interest in engaging in a trade conflict with the European Union," Barrot said.

Trump made the announcement on Sunday, according to journalists travelling with the president.

"Any steel coming to the United States is going to have them. A 25% tariff," Trump said. When questioned about tariffs on aluminium imports, Trump replied, "Twenty-five percent for both."

Trump also confirmed his plan to announce further "reciprocal" tariffs in the coming week. He spoke of an announcement on Tuesday or Wednesday.

"Very simply, if they charge us, we charge them," Trump told reporters, adding the tariffs would go into effect "almost immediately."

"This is no surprise. Donald Trump already did this in 2018," Barrot said on Monday morning. "And back then we retaliated. So we will retaliate again this time."

US tariffs of 10% on Chinese goods took effect on Tuesday, while planned tariffs of 25% on Mexico and Canada were suspended for an initial period of 30 days following promises from the two countries to increase border security measures.

Trump won November's presidential election promising to slap high tariffs on foreign goods to reduce US trade deficits. He implemented a number of duties during his first term from 2017 to 2021.

MIA file photo 

 

Остани поврзан