According to the Commission President of the Leyen, the EU wants to react to steel and aluminum with “proportionate countermeasures”. It is unclear how exactly that should look. There are probably counter tariffs.
EU Commission President Ursula von der Leyen has announced a determined reaction to the special tariffs ordered by US President Donald Trump to steel and aluminum imports. “I deeply regret the United States’ decision,” she said. “Immediate tariffs at the expense of the EU will not remain unanswered – they will result in decisive and proportionate countermeasures.”
The EU will act to protect its economic interests, said von der Leyen. Workers, companies and consumers will be defended. Customs are taxes – bad for companies and even worse for consumers.
In a previously published explanation of the EU it was said that with the tariffs, the US government would tax its own citizens, increase the costs for companies and heat inflation. In addition, tariffs reinforced economic uncertainties and disrupted the efficiency and integration of global markets.
The Brussels Commission, which is responsible for trade policy, also announced a reaction. The EU sees no justification for the imposition of tariffs to its exports.
Special tariffs on US products could come back
How exactly this reaction should look like was not communicated. EU trade commissioner Maroš Šefčovič said in the European Parliament that the extent of Trump’s measures is currently being examined. After that, there will be countermeasures.
It is likely that the special tariffs that are currently exposed to US products such as jeans, bourbon whiskey, motorcycles and peanut butter will be reintroduced. The EU had also reacted in Trump’s first term when special tariffs were introduced to steel and aluminum exports from the EU. They are currently suspended on the basis of an agreement with the former US government by Joe Biden.
Bernd Lange, Chairman of the EU Trade Committee, told the ARD studio BrusselsThe US tariff – which should come into force on March 12 – “automatically led to re -establishing the countermeasures as of April 1”.
Šefčovič emphasized that the EU is available for negotiations in order to find advantageous solutions for both sides. According to an earlier assessment by the Leyens, there could be a new deal to expand American exports of liquefied gas (LNG). In addition, it would be possible to import more military technology and agricultural goods from the USA and reduce the import duties for US cars. At ten percent, these were significantly higher than 2.5 percent.
Canada condemned tariffs, South Korea wants to negotiate
South Korea also relies on negotiations with Trump. “The government is determined to protect our companies’ interests and reduce uncertainties by building a close relationship with the Trump administration and expanding the diplomatic possibilities,” said Managing South Korean President Choi Sang Mok. The East Asian country is the fourth largest steel exporter to the USA.
Canada’s Prime Minister Justin Trudeau condemned Trump’s step. If necessary, Canada’s answer will be hard and clear, he said.
Reactions of German companies at the announcement of the customs announcement by US President Trump for EU products
Trump announces “very sophisticated plan”
Trump had launched the tariffs yesterday – as announced. “They are 25 percent without exceptions or exemptions,” he said. However, he is considering an exception to Australia for steel tariffs because “they buy many planes. They are quite far away and need many aircraft”.
The tariffs are “a big deal,” said the US president. In this way, America will be rich again. He also indicated that he is considering the introduction of additional tariffs on cars, medicines and computer chips.
He also didn’t mind if other countries should take retaliation measures, said Trump. He wanted to react to it with a “very sophisticated plan” in the next two days.
