EU retaliates after Donald Trump’s steel and aluminium tariffs take effect

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The European Union against Donald Trump’s tariff, of 25 percent over steel and aluminum within hours of valid, has escalated a trade war that shook financial markets and threatens the global economy.

The European Commission said that its measures will affect up to 26 billion euros of American goods, and to match the American definitions to European exports, and it will become in effect in April, and leave some time to negotiate with Washington.

The Chairman of the Committee, Ursula von der Lin, said that the European Union regretted the US decision and that the definitions “were bad for business, and even the worst for consumers.”

“These definitions disrupt supply chains. They bring uncertainty to the economy. Jobs are at stake. Von der Lin said.

But she added, “The European Union must act to protect consumers and business.”

Brussels acted after Trump’s tariff for steel and aluminum imports in the United States on Wednesday, as the US President continued to follow his protection agenda despite his increasing concern about the danger of local recession.

Brussels re-measures during Trump’s first term, including customs tariffs on famous American products such as Bourbon Whisky, Jeans and Harley-Davidson Motorcycles. These will become valid on April 1.

Other measures targeting industrial goods and agricultural products such as poultry and beef. It should be approved by European Union countries and will enter into force in mid -April.

Trump announced last month that he would impose duties, as the agreements between his predecessor Joe Biden and American merchant partners to allow some quantities of steel and aluminum to enter the country are free of customs duties.

US administration officials frame this step as a reaction to “foreign players” who say they are responsible for “increasing exports” from minerals to America that undermines local producers.

Trump has also expanded the metal tariff for its application to a wide range of products that contain steel and aluminum, including tennis rackets, exercise bikes, furniture and air conditioning units.

This step is part of a broader group of protectionist measures that Trump has made since he took office in January.

Australian Prime Minister Anthony Albaniz said on Wednesday that the customs tariff “is completely unjustified” and “against the” spirit of “permanent friendship” of the nations.

Australia was exempt from a similar tariff that was implemented during the first period of Trump, and the country’s steel producers were provided with the American defense and manufacturing sectors.

“This is not a friendly act,” Albaniz said.

The full list of steel and aluminum products subject to fees is $ 151 billion of imported goods in 2024, according to an analysis conducted by Simon Felit and Johannes Fritz from St. Galen gifts for prosperity through trade.

TED Murphy, a partner at the law firm Sidley Austin, said that the new Trump metal tariff was a “major change” of his approach when he presented similar fees in 2018 and allowed exceptions to some products.

“The product exceptions were examined through an American government operation to confirm the products that were not available in the United States,” Austin said. “So taking this will mean that many people will have to pay the customs tariff because they cannot source these products locally.”

On Tuesday, Trump announced that it would double the definitions that were applied to steel and aluminum imports from Canada to 50 percent, which represents an escalation in his trade war with one of the three most important commercial partners in the United States, before the opposite of the path later in the day.

On Monday, the Canadian province, which announced an additional cost of 25 percent of the US exporting power to the United States, said on Tuesday that it would suspend the charge in an attempt to cancel the customs tariff.

Additional reports by Nick Fields in Sydney and Andy borders in Brussels