German Chancellor Angela Merkel has said European Union (EU) will implement counter-measures against US tariffs on Steel and Aluminium just like Canada. In an interview to a public television, ADR following the G7 summit, Merkel said the European Union is preparing counter-measures against US tariffs on steel and Aluminium imports, in line with World Trade Organisation rules.
She said European Union won’t let itself be ripped off again and again, instead EU act then too. Merkel also said, the G7 leaders had agreed to review their trade ties and assess the scope of existing tariffs to avoid further trade barriers.
Earlier the United State had imposed a 25 percent of tariff on steel imports and 10 percent tariff on aluminum imports from the EU, Canada and Mexico.
Voicing regret about President Donald Trump’s abrupt decision to withdraw support for a G7 communique she said the withdrawal, via tweet is of course, sobering and a bit depressing.
Mr Trump’s announcement on Twitter that he is backing out of the joint communique, torpedoed what appeared to be a fragile consensus on a trade dispute between Washington and its top allies.
Merkel also brushed aside Trump’s suggestion that Russia should be readmitted to the group of the world’s leading economies.
Source: AIR