Tariff War: EU Ready to Respond to US Actions on Steel.
The European Commission has announced that it will respond to US President Donald Trump's statement about imposing 25% tariffs on imports of steel and aluminum. However, the Commission added that it will wait for clarification on these measures before making any decisions.
According to the European Commission, they have not received an official notification regarding new tariffs on goods from the EU and will not respond to unclear statements. 'We will protect the interests of European businesses, workers, and consumers from unreasonable measures,' the Commission stated.
Repetition of Actions
This initiative by Trump will be a repetition of his actions during his first presidential term when 25% tariffs on steel and 10% tariffs on aluminum from many countries were imposed.
This decision significantly impacted EU exports amounting to 6.4 billion euros (6.6 billion dollars). As a result, in 2018, the EU imposed tariffs on American goods totaling 2.8 billion euros, including bourbon and Harley Davidson motorcycles.
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