403
Sorry!!
Error! We're sorry, but the page you were
looking for doesn't exist.
Von der Leyen assures that Trump tariffs ‘will not go unanswered’
(MENAFN) European Commission President Ursula von der Leyen warned on Tuesday that the European Union would not remain passive in response to new US tariffs on steel and aluminum, signaling that countermeasures would follow. This came after US President Donald Trump announced plans to impose a 25% duty on all steel and aluminum imports into the US, effective March 4. These new tariffs would be in addition to existing metal tariffs.
Von der Leyen expressed "deep regret" over the move, emphasizing that tariffs act as taxes that hurt businesses and burden consumers. EU steel exports to the US have averaged around €3 billion annually over the past decade. She vowed that the EU would respond with "firm and proportionate countermeasures" to protect its economic interests, workers, businesses, and consumers.
Trump's decision sparked widespread condemnation within the EU. Trade Commissioner Maros Sefcovic called the tariffs a "lose-lose scenario" and warned they would worsen inflation in the US. The European Commission is currently assessing the scope of the measures to determine the best response.
French Foreign Minister Jean-Noel Barrot also stated that Brussels would retaliate, referencing a long list of US goods targeted by the EU in the past, including motorcycles, jeans, tobacco, and bourbon. German Chancellor Olaf Scholz added that if necessary, the EU would respond "united," noting that trade wars ultimately harm both sides’ prosperity.
The trade tensions between Washington and Brussels began in 2018 when Trump imposed tariffs on European metals over national security concerns, prompting a series of retaliatory measures from the EU. A temporary truce was reached in 2021 under President Joe Biden’s administration, but the new tariffs have reignited the dispute.
Von der Leyen expressed "deep regret" over the move, emphasizing that tariffs act as taxes that hurt businesses and burden consumers. EU steel exports to the US have averaged around €3 billion annually over the past decade. She vowed that the EU would respond with "firm and proportionate countermeasures" to protect its economic interests, workers, businesses, and consumers.
Trump's decision sparked widespread condemnation within the EU. Trade Commissioner Maros Sefcovic called the tariffs a "lose-lose scenario" and warned they would worsen inflation in the US. The European Commission is currently assessing the scope of the measures to determine the best response.
French Foreign Minister Jean-Noel Barrot also stated that Brussels would retaliate, referencing a long list of US goods targeted by the EU in the past, including motorcycles, jeans, tobacco, and bourbon. German Chancellor Olaf Scholz added that if necessary, the EU would respond "united," noting that trade wars ultimately harm both sides’ prosperity.
The trade tensions between Washington and Brussels began in 2018 when Trump imposed tariffs on European metals over national security concerns, prompting a series of retaliatory measures from the EU. A temporary truce was reached in 2021 under President Joe Biden’s administration, but the new tariffs have reignited the dispute.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Most popular stories
More Story
Comments
No comment