EU has 'gun held to head' on steel tariffs

EU leaders have a "gun held to their head" over the threat of US tariffs on steel imports, the head of trade body UK Steel has warned.

Gareth Stace said the EU needed to impose safeguards to curb Chinese steel once destined for the US that will now be heading to Europe.

The EU has already said it will respond by imposing tariffs on US products such as motorcycles and jeans.

The 25% US tariffs are due to come into effect on Friday morning UK time.

Steel producers across the EU were granted a temporary exemption from the tariffs while the US tried to persuade the EU to cut steel production or make other concessions.

However, reports have suggested that last-minute talks in Paris had failed, with Wilbur Ross, the US Commerce Secretary, indicating that he was poised to impose the tariffs.

French finance minister Bruno Le Maire said US tariffs on European metals would be unjustified and dangerous.

"It's entirely up to US authorities whether they want to enter into a trade conflict with their biggest partner, Europe," he said after meeting Mr Ross in Paris.

The EU would take "all necessary measures" to respond if the US did impose tariffs, Mr Le Maire warned.

Mr Stace said US tariffs would be "purely protectionist".

Aida AYSA,

“Khalg gazeti”


© İstifadə edilərkən "Xalq qəzeti"nə istinad olunmalıdır.



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