EU Threatens Showdown With Trump Over Import Tariffs
Trump is bent on protecting its country from invasion and that includes imposing import tariffs on steel and aluminum.
This move does not sit quite well with many others including the European Union which is now threatening to go to the World Trade Organisation, WTO to impose its own measures if the bloc is not excluded from the import tariffs.
EU Commissioner Cecilia Malmstrom, who coordinates policy for the world’s biggest trading bloc, said on Friday that she shared U.S. concerns about overcapacity in the steel sector but did not believe in tariffs as a way to solve the problem.
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“Europe is certainly not a threat to American internal security, so we expect to be excluded,” Malmstrom told reporters before speaking at a conference in Brussels.
Asked at the conference whether she was ready to react if the 28-country EU was included in the U.S. tariffs, Malmstrom said she stood ready to go to the WTO, the international trade arbiter, to impose the bloc’s own safeguards within 90 days.
“We have been very clear that (the U.S. decision) is not in compliance with the WTO, so we will go to the WTO, possibly with some other friends.
“We will have to protect our industry with rebalancing measures, safeguards,” she said.
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