The European Commission has said it will respond with countermeasures to the US decision to impose tariffs on steel and aluminium imports from the bloc.
Commission’s President Jean-Claude Juncker said in a statement that the unilateral US tariffs are unjustified and at odds with WTO rules. He said the US action leaves the European Union (EU) with no choice but to proceed with a case in the WTO and implement tariffs on imports from the US.
Leaders from affected nations also reacted on the imposition of US tariff. Terming that the US move was illegal, French President Emmanuel Macron said EU would respond in a firm and proportionate manner.
Canadian Prime Minister Justin Trudeau said the tariffs were totally unacceptable. Canada also announced retaliatory duties of up to 12.8 billion US dollars in American imports. Mexican Foreign Minister Luis Videgaray said his country would also impose duties. UK termed US move as just protectionism.
The United States through presidential proclamation yesterday, announced that it will impose harsh tariffs on imports of steel and aluminium from the European Union, Canada and Mexico.
Meanwhile, the International Monetary Fund (IMF) has urged countries to work constructively together to reduce trade barriers. Describing the United States’ decision to impose metal tariffs on the European Union, Canada and Mexico as unfortunate, IMF Spokesperson, Gerry Rice said in Washington that trade tensions are rising at a moment where the global recovery is being supported by trade.
Source: AIR