EU readies response as Trump hikes steel and aluminum tariffs
(VOVWORLD) - The European Union said it would respond with "firm and proportionate countermeasures" after US President Donald Trump's decision to impose tariffs on all steel and aluminum imports.
 A steel worker of ThyssenKrupp stands amid sparks of raw iron coming from a blast furnace at a ThyssenKrupp steel factory in Duisburg, western Germany, November 14, 2022. (REUTERS) |
European Commission President Ursula von der Leyen said she deeply regretted the US decision, adding that tariffs were taxes that were bad for business and worse for consumers. She said in a statement that unjustified tariffs on the EU will trigger firm and proportionate countermeasures and the EU will act to safeguard its interests.
Von der Leyen did not provide details of the response. The EU tariffs on US products such as bourbon, motorcycles and orange juice are currently suspended until the end of March.
Trump signed proclamations late on Monday raising the US tariff rate on aluminum to 25% from his previous 10% rate and eliminating country exceptions and quota deals as well as hundreds of thousands of product-specific tariff exclusions for both metals.
The measures would take effect on March 4, a White House official confirmed.