Steel and aluminum exports from all countries could soon be subjected to US import tariffs of 25 percent, after US President Donald Trump said last night that he would impose such measures today. He gave no details on whether the EU or other economies could be granted exemptions. "We will react to protect the interests of European businesses, workers and consumers from unjustified measures," a European Commission spokesperson said.
Steel and aluminum exports from all countries could soon be subjected to US import tariffs of 25 percent, after US President Donald Trump said last night that he would impose such measures today. He gave no details on whether the EU or other economies could be granted exemptions.
Trump told reporters aboard Air Force One that he would announce tariffs on Monday that would apply to "any steel coming into the United States," adding that aluminum would also be affected.
If new tariffs are imposed that apply to the EU, the bloc might decide to reimpose its retaliatory levies on US imports worth in total around 6 billion euros ($6.2 billion) per year.
French Foreign Minister Jean-Noel Barrot told reporters this morning that the EU would respond in kind. “This is already what Donald Trump did in 2018, and we responded. We will respond again,” he said.
“At this stage, we have not received any official notification regarding the imposition of additional tariffs on EU goods," European Commission trade spokesperson Olof Gill said this morning.
"We will not respond to broad announcements without details or written clarification."
"The EU sees no justification for the imposition of tariffs on its exports. We will react to protect the interests of European businesses, workers and consumers from unjustified measures."
Under an EU-US deal agreed in 2021, the Biden administration agreed on a two-year suspension of tariffs imposed in Trump's first term of up to 25 percent on steel and aluminum. The measures were replaced with a quota system allowing a certain amount of EU steel into the US free of tariffs.
In return, the EU suspended its retaliatory tariffs of 25 percent, pending negotiations on the global steel and aluminum arrangement.
Despite intense talks, the two sides missed the October 2023 deadline to seal a deal and decided to continue the tariff suspension. Under this agreement, the EU has until March 31 this year and the US until Dec. 31 to decide whether to extend their suspensions further.
Please email editors@mlex.com to contact the editorial staff regarding this story, or to submit the names of lawyers and advisers.