As Ursula von der Leyen announced, “From today (ed. Wednesday -), the US has used a 25% obligation to import steel and aluminum.” -I deeply regret this measure. Customs is tax. They are bad for businesses and even worse for consumers – she emphasized.
According to the head of the EC, “The European Union must act to protect consumers and businesses.” – The remedies we take today are strong but proportional. The US uses $28 billion worth of operations, so we respond with a bailout worth 26 billion euros – she valued it.
Obligation to retaliate against the United States. European Union “open for negotiations”
Von Der Leyen emphasized that the EU is open to negotiations. -We are deeply convinced that in a world full of geopolitical and economic uncertainties, it is not a common interest to burden economic obligations. Work is at risk – she pointed out.
See: Donald Trump threatens Europe. EC announces solid response
She added that prices will rise in both Europe and America. Agricultural products such as poultry, beef, seafood, eggs and sugar will also be affected by the new tax. EU duties will come into effect on April 1st and will be fully implemented from April 13th.
Donald Trump ordered the duties of steel and imported aluminum
The 25% obligation on aluminum imported to the US and to the US began to apply Wednesday. According to Donald Trump’s decision, they are, without exception, about imports from all countries. Peter Navarro, the US president’s trade adviser, evaluated that the common obligations of these metals would “have an end to overseas and increase domestic production.”
Furthermore, according to the White House, they will ensure “the security of the American steel and aluminum industry as pillars of economic and national security.”
See: Trump threatens obligations and proposes an annex. “Artificial borders”
Trump signed a memorandum of understanding on the February 25% job duties on steel and aluminum imports, promoting concerns about the outbreak of a trade war between the United States and its most important suppliers. – This is a big deal. We will once again enrich America – he has approved the document.
The decision of the US leader restored the duties it introduced in 2018 to steel imported from all countries, increasing the aluminum rate to 10-25%. In fact, tariffs most affect Canada, Mexico, Brazil, the EU, Japan, the UK, South Korea, that is, large exporters who have been completely or partially excluded from customs announced seven years ago.
