Brussels – The European Union on Wednesday announced a commercial action of retaliation after the Trump administration officially increased tariffs on all imports of steel and aluminum Up to 25%, with duties on industrial and agricultural products that will enter into force on April 1.
“As the United States is applying rates worth 28 billion dollars, we are responding with countermeasures worth 26 billion euros ($ 28 billion),” said the president of the European Commission, Ursula Von der Leyen, in a statement.
The Commission manages commercial and commercial conflicts on behalf of the 27 member countries.
“We will always remain open to negotiation. We firmly believe that in a world full of geopolitical and economic uncertainties, it is not of common interest to load our economies with tariffs, ”said von der Leyen.
The commission also said that steel and aluminum products would be affected in return, but also textiles, leather items, appliances, plastic house tools and wood. Agricultural products will also be affected, including poultry, beef, some shellfish, nuts, eggs, sugar and vegetables.
President Donald Trump said his taxes would help create factory work in the United States, but von der Leyen said: “The works are at stake. Prices will rise. In Europe and in the United States. “
“We deeply regret this measure. Tariffs are taxes. They are bad for business, and the worst for consumers. These rates are interrupting supply chains. They bring uncertainty for the economy, ”he said.
European steel companies have been preparing losses.
“The situation of the European steel industry will even be gender, exacerbating a serious market environment,” said Henrik Adam, president of the European European Association of Eurofer, last month.
He said the EU could lose up to 3.7 million tons of steel exports. The United States is the second largest export market for EU steel producers, which represents 16% of the EU’s total steel exports.
“Losing an important part of these exports cannot be compensated by EU exports to other markets,” Adam said.
