EU Expresses Deep Regret Over Trump's Increased Steel Tariffs
The European Commission reacts to the announcement of a tariff hike from 25% to 50% on steel imports, warning of potential retaliatory measures.
The European Union has expressed deep regret over the new steel tariffs announced by U.S. President Donald Trump, which escalated from 25% to 50%.
A spokesperson from the European Commission stated that this move undermines ongoing efforts to reach a negotiated solution with the United States and adds further uncertainty to the global economy.
The Commission indicated that the new tariffs could increase costs for consumers and businesses on both sides of the Atlantic and complicate ongoing negotiations.
In a statement, the EU noted that it had refrained from implementing countermeasures in anticipation of productive negotiations, but asserted that it is prepared to take retaliatory actions.
The Commission warned that if a mutually acceptable solution is not found, European countermeasures will automatically take effect on July 14, or even sooner if necessary.
This response came shortly after President Trump announced on Friday that he would increase tariffs on steel imports, a decision made public at an event in Pittsburgh at a U.S. Steel plant.
During his remarks, Trump indicated that the decision to raise tariffs was somewhat spontaneous, asking attendees whether they would prefer a 40% increase instead of a 50%.
The announcement follows a recent federal court ruling that overturned a majority of previous tariffs.
Although that ruling has been appealed and interim measures have been put in place to suspend the decision, the situation has raised concerns within the Trump administration.
The EU and the U.S. had agreed to a deadline of June 9 to negotiate and attempt to avert a full-blown tariff war.
However, the Commission reminded that European countermeasures, currently on hold, would automatically take effect if talks do not yield positive results by the deadline.
In recent months, the EU has faced tariffs from the Trump administration on multiple fronts: a 25% tariff on steel and aluminum, imposed in March; a 25% tariff on automobiles; and a 20% tariff on various European products announced in April.
The Trump administration suspended the latter tax until July 9 to facilitate negotiations, but tariffs of 10% on most EU exports to the U.S. remain in place pending any judicial intervention to block them.
A spokesperson from the European Commission stated that this move undermines ongoing efforts to reach a negotiated solution with the United States and adds further uncertainty to the global economy.
The Commission indicated that the new tariffs could increase costs for consumers and businesses on both sides of the Atlantic and complicate ongoing negotiations.
In a statement, the EU noted that it had refrained from implementing countermeasures in anticipation of productive negotiations, but asserted that it is prepared to take retaliatory actions.
The Commission warned that if a mutually acceptable solution is not found, European countermeasures will automatically take effect on July 14, or even sooner if necessary.
This response came shortly after President Trump announced on Friday that he would increase tariffs on steel imports, a decision made public at an event in Pittsburgh at a U.S. Steel plant.
During his remarks, Trump indicated that the decision to raise tariffs was somewhat spontaneous, asking attendees whether they would prefer a 40% increase instead of a 50%.
The announcement follows a recent federal court ruling that overturned a majority of previous tariffs.
Although that ruling has been appealed and interim measures have been put in place to suspend the decision, the situation has raised concerns within the Trump administration.
The EU and the U.S. had agreed to a deadline of June 9 to negotiate and attempt to avert a full-blown tariff war.
However, the Commission reminded that European countermeasures, currently on hold, would automatically take effect if talks do not yield positive results by the deadline.
In recent months, the EU has faced tariffs from the Trump administration on multiple fronts: a 25% tariff on steel and aluminum, imposed in March; a 25% tariff on automobiles; and a 20% tariff on various European products announced in April.
The Trump administration suspended the latter tax until July 9 to facilitate negotiations, but tariffs of 10% on most EU exports to the U.S. remain in place pending any judicial intervention to block them.
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