'A bad day for world trade': EU retaliates to Trump's tariffs

Fears of trade war resurface

clock • 3 min read

The European Union (EU) has retaliated to US President Donald Trump extending tariffs on steel and aluminium to the bloc, confirming it is launching a dispute settlement case and adding further taxes to US imports.

Trump's tariffs, which will comprise 25% on steel and 10% on aluminium, were enacted at midnight (1 June) and hit EU exports valued at €6.4bn in 2017, as well as Canada and Mexico, after talks failed. French President Emmanuel Macron is believed to have told Trump the move is "illegal" and that the EU would react "in a firm and proportionate manner". In response, the European Commission has confirmed it would be triggering a dispute settlement case at the World Trade Organisation and will impose "rebalancing measures and take any necessary steps to protect the EU market from trade div...

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