Trump’s steel fees could lead to a broader trade war as the EU threatens “proportional measures.”
Ursula von der Leyen (CDU, R), president of the European Commission, stands in the meeting room of the European Parliament.
Philipp von ditfurth | Photo Alliance | Getty Images
The European Union will retaliate against the US over new steel and aluminum tariffs.
“Unreasonable EU tariffs will not be unanswered. They will cause solid and proportionate measures,” said Ursula von der Reyen of the European Commission. statement Late Monday.
The statement comes after US President Donald Trump signs the executive order We will impose a 25% tariff Steel and aluminum. American Steelmakers shares were repeated sharply on Monday following the order.
Taxes are effectively taxes paid to import goodness into a country. Latest tariffs could raise prices for foreign steel, thereby helping to support US steel producers. Von der Layen was called “bad for business, bad for consumers.”
Trump has taken a proactive approach with tariffs early in his second tenure at the White House. He has already ordered broad tariffs in Canada and Mexico, and has since delayed it.
Reuters Von Der Leyen reports that he will meet US Vice President JD Vance on Tuesday.