The European Union has pledged to retaliate against US President Donald Trump's reimposition of tariffs on steel and aluminum imports. EU leaders condemned the tariffs, calling them harmful to businesses and consumers, and vowed to take 'firm and proportionate countermeasures.' The EU is considering targeting Republican states and traditionally strong US exports in its response.
vowed on Tuesday that U.S. tariffs on steel and aluminum “will not go unanswered,” adding that they will trigger tough countermeasures from the 27-nation bloc.
In Germany, home to the E.U.’s largest economy, Chancellor Olaf Scholz told parliament that “if the U.S. leaves us no other choice, then the European Union will react united,” adding that “ultimately, trade wars always cost both sides prosperity.” After Trump imposed steel tariffs in 2018, the E.U. imposed counter-tariffs on U.S.-made motorcycles, bourbon, peanut butter and jeans, among other items.
“We will protect our workers, businesses and consumers,” Šefčovič said, but added that “it is not our preferred scenario. We remain committed to constructive dialog. We stand ready for negotiations and to find mutually beneficial solutions where possible.”
TARIFFS TRADE WAR EUROPEAN UNION UNITED STATES ECONOMY
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