The 27-member European Union (EU) and Canada swiftly vowed to take a tough stance Tuesday against U.S. President Donald Trump's move to impose 25 percent tariffs on their steel and aluminum exports, a spat that could lead to a full-blown trade war between the traditionally allied nations.
"The EU will act to protect its economic interests," European Commission President Ursula von der Leyen said in a statement. "Tariffs are taxes — bad for businesses, worse for consumers.
"Unjustified tariffs against the EU will not go unpunished — they will trigger strong and proportionate countermeasures," he said.
Trump said the steel and aluminum tariffs would go into effect on March 12. In response, EU officials said they would target U.S. products such as bourbon, jeans, peanut butter and motorcycles, much of which are produced in Republican-controlled states that supported Trump in his election victory.
The European Union scheduled its first emergency video on Wednesday to shape the bloc's response.
Polish Prime Minister Donald Tusk, who holds the European Union presidency, said it was "important for everyone to come together. Difficult times call for full solidarity."
At a conference on artificial intelligence in Paris, Canadian Prime Minister Justin Trudeau said Trump's steel and aluminum tariffs were "completely unjustified."
"Canadians will resist strongly and decisively if necessary."
Trump imposed steel and aluminum tariffs to boost the fortunes of US manufacturers.
"This is a big deal," he said. "This is the beginning of making America rich again."
Billionaire financier Howard Lutnick, Trump's pick for Commerce Secretary, said tariffs on essentials could bring 120,000 jobs back to the U.S
As he watched Trump sign the executive order, Lutnick said, "You are a president who stands up for the textile mill worker, and I am very impressed and happy to be standing beside you."
Trump raised tariffs on aluminum imports to 25% from the 10% he imposed in 2018 to help the struggling sector. And he reinstated 25% tariffs on millions of tons of steel and aluminum imports.
South Korea, which is the fourth-largest steel exporter to the United States, after Canada, Brazil and Mexico, also pledged to protect the interests of its companies but did not provide details of its plans
Post a Comment for " European Union, Canada Vow to Take Firm Response to Trump's New Tariffs"