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The EU said that it would retaliate against American prices on European steel and aluminum exports with “firm and proportionate countermeasures”, while Brussels officials rushed to avoid a trade war with Washington .
“The EU will act to protect its economic interests. We will protect our workers, businesses and consumers, ”said the president of the European Commission Ursula von der Leyen on Tuesday.
President Donald Trump announced that the 25% Prices on all steel and aluminum imports would take effect on March 12.
EU member states have already approved samples of up to 50% out of 4.8 billion euros in American imports and could quickly take a final vote to impose them. The products would include bourbon whiskey, Harley-Davidson motorcycles, motor boats and steel and aluminum.
Von der Leyen will meet the American vice-president JD Vance in Paris to discuss the question while the commission called a meeting of the trade ministers for Wednesday afternoon.
EU’s commerce commissioner Maroš Šefčovič, the Bloc was aimed at talks in the European Parliament. “We remain attached to a constructive dialogue. We are ready for negotiations and to find mutually beneficial solutions if possible.
“There is a lot in play for both parties. We want to make it work, especially because it simply makes sense. »»
He added: “The EU sees no justification for the taxation of prices on our exports, which is economically counterproductive. Above all, given the deeply integrated production channels, established through our vast trade and transatlantic investment links.
“Prices are taxes; bad for business, [and] Worse for consumers.
THE Whiskey prices were first taken In response to the rates of metals imposed by Trump during his first mandate as president. This dispute was frozen under former president Joe Biden but did not resolve.
They will automatically enter into force at the end of March, unless a majority of EU countries agree to do so earlier.
Brussels could also expand his reprisals, but Von Der Leyen stressed that any response would be “proportionate”.
THE Ue The steel industry is already shrinking, production reaching its lowest level in 2023. The prices on exports of approximately 3.7 million tonnes per year The hard front, said Axel Eggert, director general of Eurofer, the industry organization.
“The last ton is the most profitable ton because we have such high costs,” he said.
Steel from the world that has been pushed out of the US markets could also be exported to Europe, more depressing prices, he said.
The United Kingdom has not threatened to retaliate against American steel and aluminum prices, while Sir Keir Starmer is trying to avoid a trade war with Trump and deepen economic ties, especially in technology and professional services.
Although the Prime Minister’s allies say that no decision was made to meet the last prices, the government has attempted to minimize expectations of all reprisals. He said the United States represented only 5% of British steel exports in 2023 and 6% of aluminum exports.
“It is important to see this in the context of our exports,” said a Starmer spokesperson.
Although the British government supports free trade, it has also established emergency plans in the event of climbing.
The British steel industry said Trump’s decision would be a “devastating blow” for the sector.
