Steel tariffs up to 50% prompt European Union to threaten action

In an emailed statement, an EC spokesperson stressed: “We deeply regret the US announcement to increase tariffs on imported steel from 25% to 50%.”

The statement also said that the decision by the Trump administration would add to the uncertainty of the global economy and increase costs for consumers and businesses on both sides of the Atlantic. In addition, the EC warned that "the increase in tariffs also undermines ongoing efforts to reach a negotiated solution."

The spokesperson also noted that the EU decided in April to suspend its retaliatory measures against the US tariffs for 90 days, from April 14 to July 14. This move is intended to facilitate the negotiation process between the EU and the US.

However, in the face of the latest unilateral move from the US, the EU is ready to act to protect the bloc's interests. The statement also said that the EC is conducting final consultations on countermeasures.

"If a mutually acceptable solution is not reached, the EU's response measures, including existing and additional measures, will automatically enter into force from 14 July or earlier if necessary," the statement said.

Previously, on May 30, speaking at a US Steel factory in Pennsylvania, President Trump said he would double the steel import tax to 50%.

Announcing on the social network Truth Social, he stated that the new tax on imported steel will take effect from June 4, as part of a policy to protect the domestic steel and aluminum industry.

Since returning to the White House in January, President Trump has imposed sweeping tariffs on both allies and trading partners. He has also targeted specific industry sectors including steel, aluminum and autos.

Last March, the Trump administration imposed a comprehensive 25% tariff on all steel and aluminum imports into the United States.

Canada immediately responded with corresponding tariffs targeting US goods. The EU also announced retaliatory tariffs, but later announced a 90-day delay./.

According to VNA

Source: https://baothanhhoa.vn/thue-thep-len-50-khien-lien-minh-chau-au-doa-hanh-dong-250585.htm