Brussels – The European Union on Wednesday announced a ventilative trade action by the Trump administration after increasing tariffs on all steel and aluminum imports, including duties on industrial and agricultural products that will be effective on 1 April.
European Commission Chairman Ursula von Der Leyen said in a statement, “As the US is implementing a $ 28 billion tariff, we are responding with a 26 billion euros ($ 28 billion) counteers.”
The Commission manages trade and commercial conflicts on behalf of 27 member countries.
“We will always be open for conversation. We strongly believe that in a world full of geopolitical and economic uncertainties, it is not our normal interest to burden our economies with tariffs, ”said von dera lery.
The Commission also stated that steel and aluminum products would be hits in turn, but clothes, leather goods, house equipment, home equipment plastic and wood. Agricultural products will also be affected – including chicken, beef, some seafood, nuts, eggs, sugar and vegetables.
President Donald Trump said that his taxes will help in making American factory jobs, but Von Der Leyen said: “Jobs are at stake. Prices will increase. In Europe and United States. ,
“We regret this remedy deeply. Are tariffs. They are bad for business, and are also worse for consumers. These tariffs are interrupted by supply chains. They bring uncertainty to the economy, ”he said.
European steel companies are scattered for losses.
“This will spoil the situation of the European steel industry, which already enhances the atmosphere of the European Steel Industry,” Eurofar European Steel Association President Henrik Adam said last month.
He said that the European Union may lose steel exports up to 3.7 million tonnes. The United States is the second largest export market for European Union Steel Producers, which represents 16% of the total European Union steel exports.
Adam said, “The European Union exports cannot be compensated in other markets by losing an important part of these exports.”
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