Trump metals tariffs draw swift EU retaliation

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WASHINGTON/Brussels: President Donald Trump’s rise on all US steel and aluminum imports imposed on Wednesday, which launched a campaign to reset the US in favor of global trade and run a rapid retaliation campaign from Europe.

In order to promote reservations for US steel and aluminum producers, Trump’s operations restore 25 % effective global prices on all metal imports, and hundreds of metal -made duties extend, from nuts and bolts to bolts.

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The European Commission, which has been accused of connecting trade issues on the European Union’s executive arm, responded rapidly, saying it would impose counter -taxes worth 26 billion euros ($ 28 billion) of US goods more than the economic impact next month.

“We are ready to engage in meaningful dialogue,” he added, adding that he had entrusted Trade Commissioner Marose Saifkoach to resume talks with the United States, “said Commission President Ursola Van Dare Leene.

“We firmly believe that in a world full of geographical and political uncertainty, it is not in our common interest to burden our economies with such rates,” he said.

The Chinese Foreign Ministry said Beijing would take all necessary steps to protect its rights and interests, while Japan’s chief cabinet secretary Yoshima Hiashi said the move could have a significant impact on US Japan’s economic relations.

Canada, Britain and Australia criticized blanket prices near US allies, Canada eliminated bilateral measures, and British Minister of Commerce Jonathan Reynolds said “all options were on the table” to respond in the national interest.

Australian Prime Minister Anthony Albaniz said the move was against the spirit of “sustainable friendship” of our two countries, but rejected the responsibilities of important duties.

The most affected countries of the prices are Canada, the United States, Brazil, Mexico and South Korea are the largest foreign provider of steel and aluminum, who have all enjoyed some of the exemptions or quota levels.

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The 27 countries of the European Union still have less impact. Germany’s Kaile Institute has estimated only 0.02 percent to remove EU production, as the “only small portion” of targeted products is exported to the United States.

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“For example, if we had to go more, digital services or intellectual property could be included,” he told TF -1 TV.

Trump initially threatened Canada to double the duty of up to 50 % of its steel and aluminum exports, but after that, Canada’s Ontario province imposed a 25 % surcharge on electric exports to the US states of Minnesota, Michigan and New York.

The incident already released US financial markets on Trump’s widespread tariff aggression. The Asian and European markets were widely strengthened on Wednesday, though the Australian benchmark closed on February 9.6 %. US Steel producers welcomed the implementation of prices as a restoration of Trump’s original 2018 metals prices, which were weakened by many country spending and thousands of products.

“President Trump will once again superate the steel industry that is ready to rebuild the US,” said Philip Bell, president of the Steel Manufacturers Association, said Philip Bell, president of the Steel Manufacturers Association.