By RAF CASERT, THE ASSOCIATED PRESS
Brussels (AP) -ursula von der Leyen, head of the European Union, on Tuesday promised that US charges on metal and aluminum is not going to go unanswered, including that they may trigger powerful countermeasures of the 27-Nation block.
“The EU will act to guard its financial pursuits,” Von der Leyen mentioned in a press release in response to US President Donald Trump’s imposition of charges on metal and aluminum the day earlier than.
“Charges are taxes – unhealthy for enterprise, worse for customers,” mentioned Von der Leyen. “Illegal charges on the EU is not going to be unanswered – it’ll trigger agency and proportional countermeasures.”
In Germany, residence to EU’s largest financial system, Chancellor Olaf Scholz instructed Parliament that “If the US leaves us no different alternative, the European Union will reply,” and added that “finally, commerce wars all the time wealth of each side price. “
Trump hits foreign steel and aluminum with a tax of 25% Within the hope that they may give native producers aid from international competitors, permitting them to cost larger costs. He imposed related charges throughout his first presidency, however the transfer broken the connection with essential American allies and elevated the price of ‘downstream’ ‘producers shopping for metal and aluminum.
It’s not clear which countermeasures would apply, however officers and observers mentioned that they’d goal Republican states and historically sturdy US exports.
After Trump imposed metal charges in 2018, the EU imposed counter-rates on US manufactured bikes, bourbon, peanut butter and denims.
The Vice President of the EU Fee Maroš Šefčovič mentioned on Tuesday the rates is “economically counterproductive, particularly given the deep built-in manufacturing chains established by our intensive transatlantic commerce and funding ties.”
“We are going to defend our staff, companies and customers,” mentioned Šefčovič, however added that “it isn’t our most popular state of affairs. We stay dedicated to constructive dialogue. We’re prepared for negotiations and to seek out mutually useful options the place attainable. “
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