(Forelines) – The European Commission stated on Monday it would react to defend European Union interests following U.S. President Donald Trump’s declaration of upcoming metals tariffs, but stated it would not address until it had clarification of the measures, according to Reuters report.
Donald Trump stated on Sunday that he would introduce new 25% tariffs on all steel and aluminium imports into the U.S. in additional significant escalation of his trade policy overhaul.
The Commission stated it had not obtained any official notification regarding another tariffs on EU goods and would not address to “broad announcements” without details or written clarification.
“The EU sees no justification for the imposition of tariffs on its exports. We will react to protect the interests of European businesses, workers and consumers from unjustified measures,” in a statement the Commission stated.
Donald Trump’s move, if affirmed, would mirror his action in his first term, when he enforced 25% tariffs on steel from many nations and 10% tariffs on aluminium. For the European Union that insured 6.4 billion euros ($6.6 billion) worth of exports.
The European Union addressed in 2018 with an early set of tariffs on 2.8 billion euros worth of United States goods, like bourbon and Harley Davidson motorcycles. It planned to add a additonal 3.6 billion euros of United States goods following three years.
By then, Joe Biden was U.S. president and the two sides aligned to cease United States tariffs and European Union countermeasures, the previous until the end of this year, the last until March 31.
The U.S. suspension of tariffs amounted to a quota of 3.3 million metric tons of steel and 384,000 tonnes of aluminium from European Unioin producers, depending on historical averages.
According to EU diplomats, it would make most sense to reapply the countermeasures if Donald Trump went proceed with the import tariffs.
