President Donald Trump announced plans to impose a 25% tariff on steel and aluminum imports starting Monday, and European nations reacted strongly, and China warned that a trade war would result from such actions. As he did on Sunday during his time on Air Force One, Trump announced that the tariffs would apply to all steel imported into the United States in addition to aluminum imports.
This move echoes his previous administration’s trade policies from 2017-2021 when he imposed similar tariffs to protect American industries from what he described as unfair competition from Asian and European markets. According to Trump’s point of view, foreign steel and aluminum imports have damaged American manufacturers and their workers, so he has imposed tariffs for the economic security of the U.S.
The European Commission admitted on Monday that it had not received formal notification of the tariffs from anyone. French Foreign Minister Jean-Noel Barrot sent a warning to the European Union (EU) members: if the United States implements its plan, the EU will respond with equal countermeasures. According to Barrot, there is no uncertainty about protecting national interests during an interview with a French TF1 broadcaster.
The European Commission also commented on the situation and stated that it will do everything in its power to protect European businesses, workers, and consumers from unjustified measures. Due to its status as the main supplier, Canada faces the threat of tariffs, which will likely affect steel and aluminum exports. Other key suppliers, including Brazil, Mexico, and South Korea, are also expected to be impacted. According to consulting firm Roland Berger, about 25% of Europe’s steel exports go to the U.S.
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