admin
The European Union announced tariffs on 26 billion euros, or US$28,4 billion, worth of US goods in response to new American duties on steel and aluminum.
The European Commission introduced the “swift and proportionate” countermeasures in a statement yesterday. It called the new US tariffs “unjustified.”
“The Commission regrets the US decision to impose such tariffs, considering them unjustified, disruptive to transatlantic trade, and harmful to businesses and consumers, often resulting in higher prices,” the EC said in the statement.
Trump ordered 25 percent tariffs on all steel and aluminum imports last month that took effect yesterday.
The EC said the countermeasures match the scope of US tariffs. US goods affected include boats, bourbon, and motorbikes.
The commission added that it remains ready to work with the US for a “negotiated solution.”
“Tariffs are taxes. They are bad for business, and even worse for consumers.
These tariffs are disrupting supply chains. They bring uncertainty for the economy. Jobs are at stake.
Prices will go up. In Europe and in the United States,” said Ursula von der Leyen, the president of the EC, in the statement. — Business Insider Africa
Online Reporter