European leaders, responding to President Trump’s 25% tariffs on steel and aluminum imports, vow swift retaliation. EU officials, including Ursula von der Leyen and Maroš Šefčovič, emphasize the unjustified nature of these tariffs and advocate for a united front to protect economic interests. Countries such as Canada and South Korea express their commitment to safeguarding their industries as they seek diplomatic solutions amid escalating trade tensions.
European leaders have pledged to respond promptly to the recently announced tariffs by President Trump, imposing a 25% duty on all steel and aluminum imports to the United States. Ursula von der Leyen, President of the European Commission, expressed her deep disappointment and stated, “Unjustified tariffs on the EU will not go unanswered,” emphasizing that the EU would protect its economic interests and countermeasure these tariffs.
EU Trade Commissioner Maroš Šefčovič criticized Trump’s actions as economically detrimental and suggested they would lead to inflation damages. He affirmed the commitment of the European bloc to pursue a mutually beneficial resolution while assessing appropriate responses to the tariffs, which he labeled as harmful taxes on businesses and consumers alike.
Trump’s new tariffs will increase the aluminum rate from 10% to 25% and eliminate any specific exemptions previously granted to countries or particular products. He has also hinted at implementing reciprocal tariffs against nations that impose taxes on U.S. imports while eyeing potential levies on automobiles and pharmaceuticals.
Previously, Trump targeted steel and aluminum from numerous countries, inciting the EU to impose retaliatory measures on key American products, such as motorbikes and whiskey. U.S. trade figures indicate Canada, Brazil, and Mexico as the largest steel providers to America, with about €3 billion in EU steel exports heading to the U.S. annually.
In response to these developments, Canadian Prime Minister Justin Trudeau condemned the tariffs as “unacceptable,” pledging national solidarity in addressing the situation. South Korean acting President Choi Sang-mok committed to safeguarding national interests while seeking diplomatic discussions with Washington regarding the tariffs.
German Chancellor Olaf Scholz declared the EU’s intent to stand united against U.S. actions, stating that if compelled, the bloc would respond collectively due to its considerable market power. French Industry Minister Marc Ferracci cautioned that the tariffs could significantly affect Europe, particularly if Chinese exports rerouted due to U.S. restrictions. He reiterated the need for a cohesive response from Europe against Trump’s divisive strategies.
In summary, European leaders are set to counter President Trump’s newly imposed tariffs on steel and aluminum imports, viewing them as unjustified and detrimental to the global trading system. They emphasize the necessity for a united response to protect economic interests, as countries like Canada and South Korea also express opposition. The imposition of these tariffs may lead to an escalation in trade tensions and further economic impacts worldwide.
Original Source: www.theguardian.com
