European and global leaders condemned President Trump’s tariffs on steel and aluminium imports, pledging swift retaliation and emphasizing their unjustified nature. EU officials highlight the potential for increased inflation and economic harm, while affirming a united front to safeguard their interests. The tariffs take effect on March 4, 2023, and discussions about reciprocal actions are ongoing.
European and global leaders have responded strongly to President Donald Trump’s recent decision to impose 25% tariffs on all steel and aluminium imports to the United States, a move that heightens the potential for a global trade war. Ursula von der Leyen, President of the European Commission, expressed her profound regret over this decision and emphasized that these unjustified tariffs on the EU will prompt a robust response. She vowed that the 27-member bloc would act decisively to protect its economic interests, workers, and consumers.
EU Trade Commissioner Maroš Šefčovič criticized the tariffs for potentially exacerbating inflation while maintaining that the EU aims for a mutually beneficial resolution. He stated, “The EU sees no justification for the imposition of tariffs on our exports, which are economically counterproductive. Tariffs are taxes, bad for businesses, worse for consumers, and harmful to the global trading system.” The commission is currently assessing the announced measures and plans to respond firmly.
The new tariffs, effective from March 4, increase the previous 10% aluminium tariff to 25%, eliminating exemptions for specific countries and products. President Trump has articulated his intention to simplify tariff structures for clearer understanding, establishing a universal 25% tariff. Additionally, he has suggested the implementation of reciprocal tariffs and is considering levies on automobiles and pharmaceuticals.
In response to the tariffs, Canada’s Prime Minister Justin Trudeau labeled the actions as “unacceptable,” asserting that Canadians would respond assertively if necessary. Similarly, South Korea’s acting President Choi Sang-mok pledged to safeguard domestic interests and seek diplomatic engagement with the United States.
Germany’s Chancellor Olaf Scholz assured that the EU would maintain a united front against these tariffs, highlighting the bloc’s considerable market strength. “If the US leaves us no other choice, the EU will respond as one,” he stated. French Minister Marc Ferracci also remarked on the potential indirect effects on Europe due to changes in Chinese export patterns, underscoring the need for a cohesive European response.
In summary, President Trump’s implementation of high tariffs on steel and aluminium imports has ignited a wave of condemnation and vows for retaliation from European and global leaders. The EU has committed to responding in a coordinated manner to protect its economic interests, asserting that these tariffs are unjustified and detrimental to the global trading order. The situation continues to unfold as leaders explore their options for response and negotiation.
Original Source: www.theguardian.com
