Brussels (TDI): The European Union said on Monday that it will react to protect its interests against “unlawful and economically counterproductive” US tariffs on aluminum and steel if these are confirmed.
The EU does not see any justification for these tariffs on its exports, it said in a statement.
On Sunday, US President Donald Trump announced 25% tariffs on steel and 10% tariffs on aluminum imports.
The EU said it has not received an official message about the tariffs.
The European Commission said that it has not yet received an official notification about additional tariffs on EU goods and will not respond to broad announcements without detailed information or written clarification.
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Considering US tariffs unlawful, the EU highlighted the deeply connected production chains of the EU and the US.
“The imposition of tariffs would be unlawful and economically counterproductive, particularly due to deeply integrated production chains the EU and the United States established through Transatlantic Trade and Investment”.
The EU expressed its concerns about the potential disruption and uncertainty in global markets caused by the US announcement of increased tariffs.
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The European Commission further said, “Tariffs are essentially taxes. By imposing tariffs, the United States would be taxing its own nationals, increasing costs for business, and fuelling inflation. Moreover, tariffs increase economic uncertainty and disrupt the efficiency and integration of international markets”.
