(MENAFN- Kuwait News Agency (KUNA)) BRUSSELS, March 9 (KUNA) -- The EU called Friday for dialogue with the US and hoped that it will be excluded from the high US tariff rates on steel and aluminium.
"We need a dialogue with the US. We need a clarity to the situation but it is also very clear that we are looking at an option to be excluded from high tariffs," Jyrki Katainen, Vice-President of the European Commission in charge of Jobs, Growth, Investment and Competitiveness, told a press conference.
US President Donald Tusk last night signed off a declaration on new import duties - 25 percent on steel and 10 percent on aluminium - and said they will go into effect in 15 days. Canada and Mexico will be exempt from the new tariffs.
Katainen, however, warned that "we will also continue our preparatory work for potential rebalancing measures hoping that we are not forced to use them." He said that the EU has not heard any further information about the criteria of potential exclusion.
"But obviously we think that as the EU companies are not the source of unfair trade and as the EU and its companies are not the source of security threat, we should get an exclusion," he added. (end) nk.mt
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