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m3n4.net December 12, 2018


United States singled out by G7 allies over steel and aluminum tariffs

03 June 2018, 08:34 | Tara Lloyd

United States singled out by G7 allies over steel and aluminum tariffs

INDUSTRY Steel

Countries around the world are fighting back against President Donald Trump's decision to slap tariffs on steel and aluminum imports, announcing retaliatory countermeasures and warning that the USA plan will hurt us consumers. "We look forward to continued negotiations, both with Canada and Mexico on the one hand, and with the European Commission on the other hand, because there are other issues that we also need to get resolved", United States commerce secretary Wilbur Ross said.

The initial tariffs were announced in March after President said that the USA had been unfairly treated in trade with its neighboring and oversees partners.

"That is why we are challenging the U.S. and China at the WTO", EU Trade Commissioner Cecilia Malmstrom said.

That from Brussels, as the USA slaps tariffs on imports of steel and aluminium from the bloc.

The American exports targeted in the initial wave of European Union retaliatory tariffs are worth roughly €2.8 billion ($3.3 billion) annually, according to European Union officials.

The complaint against the U.S. has been planned since March when Trump first announced plans to hit Europe and other allies with the metals tariff.

As the European Union launches a complaint at the world's trade watchdog over U.S. tariffs, the bloc is also taking China to task.

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"We have to keep things in proportion", he said on the French radio station France Info.

Germany's carmakers are especially braced for the latest threat from Trump, who earlier this month launched proceedings that could eventually slap 25 per cent tariffs on auto imports.

The EU's trade chief, Cecilia Malmstrom, said that the USA decision to impose tariffs "is further weakening the Trans-Atlantic relations".

He continued: "The reason I don't know is because he's talked about the fact of this, he's anxious about trade surpluses, trade deficits around the world".

"We regret that our common work together at the level of the G7 has been put at risk by the decisions taken by the American administration on trade and on tariffs", he said.

The EU has filed a case at the World Trade Organization after the United States imposed a 25 per cent duty on European steel and a 10 per cent duty on European aluminium on Friday. The countries had been granted a temporary exemption from the tariffs introduced by the White House on March 1.

U.S. companies, too, have warned about the negative impact of the tariffs which will raise their costs.

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"This is not the way we do business, and certainly not between longstanding partners, friends, and allies", she said.

May said in a statement that the United States, the European Union and Britain are close allies and have always promoted values of open and fair trade across the world. Canada unveiled a package of counter-tariffs on USA imports valued at Can$16.6 billion (US$12.8 billion).

US Commerce Secretary Wilbur Ross said that no reprisals over the measure will have an impact on the American economy.

President Donald Trump's chief economic adviser is brushing off concerns over escalating trade disputes with a host of US allies as nothing but a "family quarrel".

"This is protectionism, pure and simple", said Jean-Claude Juncker, president of the European Commission.

The EU has already issued a 10-page list of tariffs on U.S. goods ranging from Harley-Davidson motorcycles to bourbon.

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