The European Commission expressed “deep regret” on Saturday over US President Donald Trump’s announcement that he intends to raise tariffs on steel imports to 50 percent, warning that the EU is prepared to impose countermeasures.
Trump announced on Friday his intention to double tariffs on steel and aluminum imports from 25 to 50 percent, increasing pressure on steel producers around the world and deepening international trade tensions.
“We deeply regret the announcement that US tariffs on steel imports will increase from 25 to 50 percent,” a European Commission spokeswoman said in an emailed statement.
“This decision adds further uncertainty to the global economy and raises costs for consumers and businesses on both sides of the Atlantic,” she added, noting that “this tariff increase undermines ongoing efforts to reach a negotiated solution.”
The spokeswoman stated that the EU had suspended countermeasures to allow negotiations to continue, but is now prepared to act.
She said, “The European Union is prepared to impose countermeasures in response to the recent increase in US tariffs,” explaining that the European Commission is currently conducting final consultations on expanding the scope of those measures.
She emphasized that “if a mutually acceptable solution is not reached, the current and new EU measures will automatically enter into force on July 14, or sooner if circumstances warrant.”
Agencies
