EU will respond if US imposes additional tariffs on steel and aluminum
The European Union (EU) says there is no reasonable justification for the US to impose a 25 percent tariff on steel and aluminum imports and that in such a case it will protect Europeans from unfair measures.
The European Commission published a written statement regarding the possibility of additional tariffs being imposed by the US on EU steel and aluminum.
"At this stage, no official notification has been received from the US regarding the application of additional tariffs on EU products. The EU sees no justification for the application of tariffs on its exports. We will react to protect the interests of businesses, workers and consumers in Europe from unjustified measures," the statement said, AA reports.
It is further emphasized that the EU and the US have created highly integrated production chains through trade and investment and that the implementation of tariffs would be contrary to the law and would have adverse economic effects.
It is further noted that tariffs essentially mean taxes. By imposing tariffs, the US will impose taxes on its citizens, increase the costs of its businesses, and fuel inflation.
It is also said that the imposition of customs duties by the US will increase economic uncertainty and disrupt the efficiency and integration of global markets.
US President Donald Trump announced yesterday that he would impose 25 percent tariffs on steel and aluminum imports. Trump announced that aluminum and steel from Canada and Mexico would be subject to the tariffs.
Trump said he would announce tariffs based on reciprocity tomorrow or Wednesday. "They take 130 percent tariffs from us and we take nothing from them. It's not going to stay that way," he said.
