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The EU retaliated against the 25% prices of Donald Trump on steel and aluminum in the hours following their entry into force, degreed a trade war that rocked the financial markets and threatens the world economy.
The European Commission said that its measures would affect up to 26 billion euros in American goods, corresponding to the American prices on European exports and would take effect in April, leaving a certain time to negotiate with Washington.
The chairman of the Ursula von der Leyen commission said the EU had regretted the American decision and that the prices were “bad for business, and even worse for consumers”.
“These prices disturb the supply chains. They bring uncertainty for the economy. The jobs are at stake. Prices will increase, “said Von Der Leyen.
But it added: “The European Union must act to protect consumers and business.”
Brussels acted after Trump prices On steel and aluminum imports to the United States, when the American president continued to continue his protectionist sales program despite increasing concerns about the risk of national recession.
Brussels restored the measures introduced during the first term Trump, including prices on emblematic American products such as Bourbon whiskey, Harley-Davidson jeans and motorcycles. These would take effect on April 1.
Additional measures target industrial goods and agricultural products such as poultry and beef. These must still be approved by EU countries and would come into force in mid-April.
Asset announced last month That he would impose tasks, tearing the agreements concluded between his predecessor Joe Biden and the American trade partners to allow certain quantities of steel and aluminum to enter the country in the franchise of rights.
US administration officials have designed this decision in response to “foreign players” who, according to them, are responsible for “the rise in exports” of metals to America who undermine national producers.
Trump has also widened metal prices to apply to a wide range of products containing steel and aluminum, including tennis rackets, exercise bikes, furniture and air conditioning units.
This decision is part of a wider set of protectionist measures introduced by Trump since he took office in January.
Australian Prime Minister Anthony Albanese said on Wednesday said that the prices were “entirely unjustified” and “against the spirit” of “sustainable friendship” of nations.
Australia was exempt from similar rates implemented during Trump’s first mandate, and the country’s steel producers provide the American defense and manufacturing sectors.
“It’s not a friendly act,” said Albanese.
The complete list of steel and aluminum products subject to samples represented $ 151 billion in products imported in 2024, according to an analysis by Simon Evenett and Johannes Fritz of the St Gallen Endowment for Prosperity by trade.
Ted Murphy, partner of the law firm Sidley Austin, said that Trump’s new metal prices have represented a “big change” compared to his approach when he introduced similar samples in 2018 and has granted exclusions to certain products.
“Product exclusions have been verified through an American government process to confirm that products were not available in the United States,” said Austin. “So withdraw this means that many people will have to pay the price because they cannot find these products at the national level.”
Tuesday, Trump announced that he would double the prices applied to the 50%Canadian steel and aluminum imports, marking an escalation in his trade war with one of the three main trade partners in the United States, before reversal Later in the day.
Ontario Canadian Province, which announced a 25% supplement to electricity exported to the United States on Monday, said it would suspend the charge in order to defuse the Tit-For-Tat prices.
Additional reports from Nic Fildes to Sydney and Andy Bounds in Brussels
