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The European Commission (EC, Commission) issued a statement on Monday addressing concerns over the potential imposition of additional US tariffs on EU steel and aluminium exports.
The Commission emphasized that it has not received any formal notification from US authorities regarding implementing such tariffs. The EC stated it would not directly respond to broad announcements without further details or written clarification. Furthermore, it firmly rejected any justification for imposing tariffs on EU exports. It warned that it would take necessary steps to protect European businesses, workers, and consumers from unjustified trade measures. The Commission noted that if tariffs were implemented, they would be unlawful and economically detrimental, particularly in light of the deeply integrated production and trade networks between the EU and the US.
According to the statement, imposing tariffs would disrupt established transatlantic trade relations and impose additional costs on US businesses and consumers. The Commission pointed out that tariffs function as taxes, which, when applied, would increase costs for US industries reliant on European steel and aluminium, exacerbating inflationary pressures and economic uncertainty.
The US has justified the potential sanctions on the European Union by citing concerns over what it perceives as unfair trade practices and subsidies provided to European industries. President Trump said these subsidies create an uneven playing field, disadvantaging American manufacturers and workers. Additionally, the US has raised concerns regarding EU regulations that it views as restrictive for American companies seeking market access. These factors have contributed to heightened tensions and prompted the US government to consider tariffs to counteract perceived economic disparities.
The potential tariffs come amid broader trade tensions between the EU and the US, particularly concerning global trade policies and industrial subsidies. The European Commission reiterated its commitment to maintaining open trade relations while standing firm against any measures it deems unjustified or violating international trade rules.
Previously, the US announced similar trade measures affecting other countries, including Canada, Mexico, and China. These tariffs are part of broader efforts to address perceived imbalances in global trade and protect domestic industries. However, the affected nations have voiced strong opposition, warning that such measures could lead to retaliatory actions, further complicating international trade relations.
While the EU stated it would remain open to dialogue, the Commission clarified that it is prepared to take proportionate measures should the US proceed with restrictive trade actions.
The post European Commission responds to US tariff threats on steel and aluminium appeared first on JURIST - News.
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The Commission emphasized that it has not received any formal notification from US authorities regarding implementing such tariffs. The EC stated it would not directly respond to broad announcements without further details or written clarification. Furthermore, it firmly rejected any justification for imposing tariffs on EU exports. It warned that it would take necessary steps to protect European businesses, workers, and consumers from unjustified trade measures. The Commission noted that if tariffs were implemented, they would be unlawful and economically detrimental, particularly in light of the deeply integrated production and trade networks between the EU and the US.
According to the statement, imposing tariffs would disrupt established transatlantic trade relations and impose additional costs on US businesses and consumers. The Commission pointed out that tariffs function as taxes, which, when applied, would increase costs for US industries reliant on European steel and aluminium, exacerbating inflationary pressures and economic uncertainty.
The US has justified the potential sanctions on the European Union by citing concerns over what it perceives as unfair trade practices and subsidies provided to European industries. President Trump said these subsidies create an uneven playing field, disadvantaging American manufacturers and workers. Additionally, the US has raised concerns regarding EU regulations that it views as restrictive for American companies seeking market access. These factors have contributed to heightened tensions and prompted the US government to consider tariffs to counteract perceived economic disparities.
The potential tariffs come amid broader trade tensions between the EU and the US, particularly concerning global trade policies and industrial subsidies. The European Commission reiterated its commitment to maintaining open trade relations while standing firm against any measures it deems unjustified or violating international trade rules.
Previously, the US announced similar trade measures affecting other countries, including Canada, Mexico, and China. These tariffs are part of broader efforts to address perceived imbalances in global trade and protect domestic industries. However, the affected nations have voiced strong opposition, warning that such measures could lead to retaliatory actions, further complicating international trade relations.
While the EU stated it would remain open to dialogue, the Commission clarified that it is prepared to take proportionate measures should the US proceed with restrictive trade actions.
The post European Commission responds to US tariff threats on steel and aluminium appeared first on JURIST - News.
Continue reading...
Note: We don't have any responsibilities about this news. Its been posted here by Feed Reader and we had no controls and checking on it. And because News posted here will be deleted automatically after 21 days, threads are closed so that no one spend time to post and discuss here. You can always check the source and discuss in their site.