Duties on the USA: The European Union has announced the customs of American goods of value EUR 26 billion. This retaliation for 25 % duties on steel and aluminum from Europe. “They correspond to the economic scope of the tariff USA” – Ursula von der Leyen pointed out in the announcement. EU duties are to come into force from April.
The US react: “EU criminal activities completely ignore the national security considerations of the United States – as well as international security – and are another indicator that the EU trade and economic policy is detached from reality” – wrote a representative on Wednesday, March 12 USA trade for (UPR) Jamieson Greer. He also stated that the European Union has been opposed to the US efforts in favor of reindustrialization for years and “rejected US administration attempts to cooperate in response to global surpluses of steel and aluminum production.”
What do US duties mean on the EU? On Wednesday, March 12, 25 % entered into force. Cutches on the import of steel and aluminum to the United States. US President Donald Trump He justified the decision on the duties with the need to protect the domestic industry. According to the European Steel Association (EUROFER), the European Union may lose up to 3.7 million tons of steel exports to the USA. The United States is the second largest export market for EU producers.
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Sources: US Trade Representative Office, European Commission, Eurofer