EU Threatens Retaliation Against Trump's Steel Tariff Decision
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World
February 11, 2025 09:57
brussels, belgium - EU Commission President Ursula von der Leyen warns of countermeasures in response to Trump's steel and aluminum import tariff.
EU Warns of Retaliation Against US Import Tariffs
EU Commission President Ursula von der Leyen issues a warning to US President Donald Trump regarding the newly imposed import tariff on European steel and aluminum. Von der Leyen emphasizes that import tariffs are equivalent to taxes and could negatively impact businesses and consumers. She states that the EU will take action to safeguard its economic interests.
Under European regulations, Brussels has the authority to retaliate with import tariffs on American goods. The specific retaliatory measures by the European Commission are yet to be disclosed.
Meanwhile, European Commissioner Maroš Šefčovič (Trade) addressed the issue of steel and aluminum import duties in the European Parliament, stating that they are evaluating their response to the sudden decision. Brussels remains open to negotiations and seeks mutually beneficial solutions.
The 'Trump tax' is set to be implemented on March 12. In the Netherlands, Tata Steel in IJmuiden faces potential consequences as the United States represents a significant market for their steel production, accounting for approximately 12% of their annual output.