Brussels – Saba:
The European Union (EU) warned on Saturday that it would take retaliatory measures by summer in response to U.S. President Donald Trump’s latest announcement on increasing tariffs on steel imports.
A spokesperson for the European Commission in Brussels, the body responsible for EU trade policy, stated: "We deeply regret the U.S. decision to raise tariffs on steel imports from 25% to 50%."
"This move further destabilizes the global economy and increases costs for consumers and businesses on both sides of the Atlantic," the spokesperson added, according to Russia Today.
The statement indicated that the EU would implement countermeasures before July 14. Under the current situation, the previously planned EU counter-tariffs—originally designed in response to Trump’s initial tariff decisions—will automatically take effect on that date.
The European bloc had intended to enforce these measures on April 14 but postponed them after Trump granted several countries, including the EU, a 90-day exemption from certain tariffs.
This grace period was meant for negotiations, and the EU has repeatedly emphasized that it would take decisive action against U.S. tariffs if talks failed.
In a speech delivered on Friday at a steel plant near Pittsburgh, Pennsylvania, the U.S. president claimed that additional tariffs on imports would bolster the national steel industry, adding that "tariffs are his favorite word ever."
The Trump administration justified the existing steel tariffs as a national security measure. Trump has also announced numerous other tariffs, some of which have already been imposed or threatened.
In addition to a new 10% punitive tariff on most imports, he has also proposed higher targeted tariffs on specific imports, including those from major trade partners like China and the EU.
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